KUALA LUMPUR: Malaysian palm oil futures rose 2 percent on Tuesday, a second consecutive session of gains on stronger export demand and expectations of weaker production. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 2 percent at ,500 ringgit ($612) a tonne at the midday break, its sharpest daily rise since Dec. 15. Exports of Malaysian palm oil products for Dec. 1-25 rose 1 percent from a month earlier, data released by ITS before the midday break on Tuesday showed. The March soybean oil contract on the Chicago Board of Trade was closed for the Christmas holidays. Palm oil prices are impacted by movements in other edible oils, as they compete for a share of the global vegetable oils market.

Source: The Star December 26, 2017 23:03 UTC