The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 2.1% at 2, 179 ringgit ($520.92) a tonne at the close for its strongest daily gain in two months. Palm oil rose as much as 2.3% to 2, 185 ringgit, its strongest since April 22, on the way to a fifth straight session of gains, adding 5.7% this week.
KUALA LUMPUR: Malaysian palm oil futures extended gains on Friday evening to their highest in nearly three-and-a-half months, tracking U.S. soyoil on the Chicago Board of Trade (CBOT) and related oils on China's Dalian Commodity Exchange.
The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 2.1% at 2, 179 ringgit ($520.92) a tonne at the close for its strongest daily gain in two months.
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