Malaysian palm oil price up 2 pct on stronger related oils

Malaysian palm oil futures edged down at the close of trade on Friday, recording a fifth session of losses in six and tracking weakness in China's Dalian Commodity Exchange, traders said.

KUALA LUMPUR: Malaysian palm oil futures surged nearly 2 percent on Tuesday evening, tracking gains in related edible oils and on prospects of reduced stockpiles because of higher exports.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was up 1.9 percent at 2,153 ringgit ($527.31) a tonne at the close of trade, its highest for a week.