The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.5% at 2,058 ringgit ($500.36) per tonne at the close of trade. This marks its fourth straight session of progress, and its strongest daily gains in six weeks. It earlier rose as much as 1.6% to 2,062 ringgit, its highest levels since June 7.
KUALA LUMPUR: Malaysian palm oil futures fell 2% at the close of trade on Thursday, hitting their lowest level in a week as they tracked weakness in related edible oils.
The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed 2% down at 2,016 ringgit ($481.03) per tonne at the end of the trading day, its sharpest daily decline in three weeks and its second consecutive day of losses.
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