Malaysian palm oil price gains for 2nd straight day on stronger crude oil

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 1 percent at 2,191 ringgit ($537.80) a tonne at the end of the trading day. Trading volume stood at 49,614 lots of 25 tonnes each at the close of trade.

KUALA LUMPUR: Malaysian palm oil futures edged up for a second consecutive session on Tuesday, tracking strength in crude oil prices and a weaker ringgit.

A weaker ringgit, palm's currency of trade, usually supports the edible oil by making it cheaper for holders of foreign currencies. It weakened 0.2 percent against the dollar on Tuesday evening to 4.1350.