KUALA LUMPUR: Malaysian palm oil futures opened at their highest in nearly seven months on Monday, notching up a sixth session of gains in seven, supported by strength in related edible oils.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange opened 1.7 per cent higher at 2,333 ringgit. It was last up 1.4pc at 2,327 ringgit ($566.46) a tonne at the end of the trading day, its strongest daily gains since January 22.

Trading volumes stood at 23,679 lots of 25 tonnes each at the close of trade.

“Palm is up tracking (soyoil) strength in the Dalian Commodity Ex­­change,” a futures trader from Kuala Lumpur, said.

Published in Dawn, January 29th, 2019