Palm oil may break a support at 2,546 ringgit per tonne and fall more into a range of 2,505-2,530 ringgit, according to technical analysis by Wang Tao, a Reuters market analyst for commodities and energy technicals.
KUALA LUMPUR: Malaysian benchmark palm oil futures rose for a second consecutive day as the ringgit weakened and stockpiles declined in the world's second largest palm producer.
The palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was 0.2 percent higher at 2,668 ringgit ($658) per tonne at the midday break.
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