Malaysian palm oil price rises on weaker ringgit, improved demand

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,403 ringgit ($617.90) a tonne at the close of trade. It earlier rose as much as 0.7 percent to 2,424 ringgit.

KUALA LUMPUR: Malaysian palm oil futures rose on Monday in a second session of gains, supported by a weaker ringgit and better demand prospects.

A weakening of palm oil's traded currency usually makes it cheaper for holders of other currencies. The ringgit fell 0.5 percent to 4.1270 against the dollar, its weakest since Nov. 22.