Palm rises on firmer Dalian oils, weak ringgit, but set for second weekly loss – Markets

KUALA LUMPUR: Malaysian palm oil futures opened higher on Friday for a second straight session, supported by stronger rival Dalian oils and a weak ringgit.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 47 ringgit, or 1.24%, to 3,848 ringgit ($890.74) a metric ton in early trade.

Malaysian palm oil futures slip

The contract has lost 1.19% so far this week and is poised to log a second consecutive weekly decline.

KUALA LUMPUR: Malaysian palm oil futures opened higher on Friday for a second straight session, supported by stronger rival Dalian oils and a weak ringgit.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 47 ringgit, or 1.24%, to 3,848 ringgit ($890.74) a metric ton in early trade.

Malaysian palm oil futures slip

The contract has lost 1.19% so far this week and is poised to log a second consecutive weekly decline.