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SINGAPORE, May 17: Malaysian palm oil futures rose on Friday, gaining for a second straight week, as investors pinned their hopes on a recovery in exports in the second half of May to help ease stocks.
At market close, the benchmark August contract on the Bursa Malaysia Derivatives Exchange was up 1 per cent at 2,336 ringgit ($774) per tonne. Prices traded in a tight range between 2,327 and 2,342 ringgit.
Total traded volumes stood at 31,976 lots of 25 tonnes each, slightly lower than the usual 35,000 lots.—Reuters
