Palm oil rises on higher crude prices, but set for 13% monthly drop

Palm oil exports from Malaysia, the world's second-largest palm producer, during its first month of a partial lockdown to contain the coronavirus tumbled 41.7% from a year earlier to 890,331 tonnes, its plantation industries and commodities minister said on Thursday.

KUALA LUMPUR: Malaysian palm oil futures climbed for a third straight session on Thursday, tracking higher crude and soybean oil prices, as traders awaited data on April exports due later in the day.

The contract, however, was on course for a monthly drop of 13% after a historic rout in oil prices and as coronavirus-driven lockdowns around the globe slammed demand.