Malaysian palm oil price up for 2nd straight day on related edible oils strength

The government will draw up new strategies and approaches to combat the anti-palm oil campaign by the European Union (EU) which give negative perceptions of the palm oil industry in this country.

KUALA LUMPUR: Malaysian palm oil futures edged up on Monday evening, having risen nearly 1 percent earlier in the day, tracking strength in related edible oils and charting a second straight session of gains.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.5 percent at 2,206 ringgit ($541.08) a tonne at the close of trade.