KUALA LUMPUR: Malaysian palm oil futures rose 2 per cent at end of trading on Tuesday to a one-week top, tracking gains in US soyoil on the Chicago Board of Trade (CBOT). The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange closed at 2,066 ringgit ($493.43) per tonne, after its strongest daily gain in nearly two weeks. It ended up for a second day in a row. Palm had risen to 2,069 ringgit in earlier trade, its highest levels since May 21.

Published in Dawn, May 29th, 2019