Malaysian palm oil price hits two-week top, further gains seen on strong demand

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.

SINGAPORE: Malaysian palm oil futures extended gains on Thursday, climbing to the highest in more than two weeks with prices underpinned by strong demand of the vegetable oil. 

    A weaker Malaysian ringgit, which makes palm oil cheaper for importers holding other currencies, also fuelled gains in prices of the tropical oil, traders said.