Malaysian palm oil price sees strongest gain in a week on weaker ringgit

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last up 0.6% at 2,253 ringgit ($537.71) per tonne at the close of trade, its strongest gain in a day since Aug. 22 and its sixth day of gains in seven. Palm earlier fell as much as 0.6% to a four-day low of 2,225 ringgit.

KUALA LUMPUR:Malaysian palm oil futures charted their strongest daily gains in a week on Wednesday, pulling out of earlier range trading thanks to losses in the ringgit and a recovery in U.S. soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last up 0.6% at 2,253 ringgit ($537.71) per tonne at the close of trade, its strongest gain in a day since Aug. 22 and its sixth day of gains in seven.