Malaysian palm oil price rises on bullish market outlook

"We are in a period where with growing maturity, there should be sizable increases in CPO production for the next 3-5 years," James Fry (filepic) said in a speech at the International Palm Oil Congress and Exhibition conference in Kuala Lumpur late on Tuesday.

KUALA LUMPUR: Malaysian palm oil futures inched higher on Tuesday, with traders expecting more upbeat outlooks from participants at an industry conference this week.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed up 0.5 percent at 2,160 ringgit ($530) a tonne.