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Palm rises over 1% on bargain buying but still heads for weekly loss
KUALA LUMPUR: Malaysian palm oil futures rose more than 1% on Friday, on bargain buying and gains in Dalian palm olein and Chicago soyoil, though they were still poised for a first weekly loss in four weeks. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 53 ringgit, or 1.15%, to 4,669 ringgit ($1,150.85) a metric ton by the midday break. The contract has declined 3.9% so far this week. Crude palm oil futures traded higher following the bullish recovery in Dalian palm olein and Chicago soyoil during Asian hours, said Anilkumar Bagani, head...
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