Malaysian palm oil price rebounds on weaker ringgit, short covering

Malaysian palm oil futures edged up at the close of trade on Friday, but remained largely caught in a range as demand remained tepid.

KUALA LUMPUR: Malaysian palm oil futures rebounded from losses earlier in the day to chart a first day of gains in four sessions, lifted by a weaker ringgit and some short covering, traders said.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange edged up 0.4 percent to 2,213 ringgit ($540.42) a tonne at the close of trade.