KUALA LUMPUR: Palm oil futures rose as much as 2 per cent on Monday, snapping four previous sessions of declines, on the back of a weaker ringgit and a technical correction.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 1.8pc at 2,187 ringgit ($523.46) a tonne at the end of the trading day, its strongest daily gain in two weeks. It earlier rose to an intraday peak of 2,193 ringgit, also its highest levels in three days.

Trading volumes stood at 32,106 lots of 25 tonnes each at the close of trade.

Published in Dawn, October 30th, 2018