Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand..
KUALA LUMPUR: Malaysian palm oil futures climbed over 1 percent on Friday before paring gains at the close of trade, buoyed by expectations of strong exports and falling production.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange hit a one-month high of 2,615 ringgit ($655.06) per tonne in early trade before settling 0.35 percent higher than the previous close at 2,594 ringgit at the end of the trading day.
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