KUALA LUMPUR: Malaysian palm oil futures climbed more than 2% on Friday, buoyed by hopes of a revival in demand due to the easing of coronavirus-led curbs in some countries and a fall in inventories in top producer Indonesia, but the contract was set for a sharp weekly decline.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 45 ringgit, or 2.3%, to 1,991 ringgit ($462.92) per tonne by the midday break.
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