Malaysian palm oil price eases gains after hitting 5-week top on weaker exports

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed up 38 ringgit, or 1.8 percent, at 2,198 ringgit ($531.30) a tonne, after rising to its highest since Sept. 18 at 2,209 ringgit a tonne earlier in the session. Trading volumes stood at 44,514 lots of 25 tonnes each by the end of the session.

KUALA LUMPUR: Malaysian palm oil futures ended the trading day higher on Tuesday evening, after earlier striking a 5-week high following overnight gains in soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.1 percent at 2,244 ringgit ($540.53) a tonne at the close of trade, after rising to its highest since Sept. 12 at 2,257 ringgit earlier in the session.