Malaysian palm oil futures rose more than 1 percent on Friday evening, charting a third straight day of gains, supported by a weaker ringgit MYR= and rising related edible oils.
KUALA LUMPUR: Malaysian palm oil futures reversed early losses to make gains in the second half of trade, supported by forecasts of declining production which could dent local stock levels, traders said.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at 2,508 ringgit ($583.80) a tonne at the trading close.
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