Palm oil ticks higher on strong partial exports; MPOB data in focus

Crude palm oil production gained 2.2% from May to 1.61 million tonnes, while palm oil exports jumped 11.8% to 1.42 million tonnes, MPOB said.

KUALA LUMPUR: Malaysian palm oil firmed on Monday, as traders readied for the palm oil board data, with an uptick in July 1-10 exports and stronger rival soyoil aiding sentiment.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 2 ringgit, or 0.05%, to 3, 894 ringgit ($929.58) a tonne by the midday break. Last week, it jumped 2.7%.