Malaysian palm oil price gains as India holds soft oils tariff

Palm oil may rise to RM2,001 per tonne, as suggested by a projection analysis, said Wang Tao, a Reuters market analyst for commodities and energy technicals.

KUALA LUMPUR: Malaysian palm oil futures reversed earlier losses to close higher on Friday on relief that top palm consumer India kept its import tariffs on palm olein unchanged.

The market was earlier down on concerns that India, the world's largest palm oil importer, could raise import tariffs on edible oils in its budget announcement on Friday.