Malaysian palm oil price jumps over 1% tracking crude oil gains

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 gained more than 1 percent in the second half of trading on Monday, snapping five straight sessions of declines, tracking strength in crude oil and U.S. Chicago Board of Trade (CBOT) soyoil.

The benchmark palm oil contract for December delivery was up 0.9 percent at 2,162 ringgit ($523.87) a tonne on the Bursa Malaysia Derivatives Exchange at the close of trade, its strongest daily gain in two weeks.