Malaysian palm oil price rises for 3rd day Thursday on expected higher biofuel demand(Update)

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange rose 0.7% to 2,338 ringgit ($559.06) per tonne at 0233 GMT. Dalian's January palm oil contract was down 0.2% on Thursday, while the January soyoil contract was 0.5% lower.

SINGAPORE: Malaysian palm oil futures rose for a third consecutive session on Thursday on expectations for higher biofuel demand, though a stronger ringgit and cheaper rival oils capped gains.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange rose 0.7% to 2,338 ringgit ($559.06) per tonne at 0233 GMT.