NEW DELHI: Malaysian palm oil futures rose on Tuesday, in line with rival soyoil, but estimates of higher output and sluggish exports by the world’s top producers limited gains.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange closed up 0.46 per cent, or 9 ringgit, at 1,967 Malaysian ringgit ($475.47) per tonne.

On Monday, the contract settled at 1,957 ringgit after rising to 1,982 ringgit earlier in the day.

On Tuesday, US soyoil futures were up 0.8pc. Chicago soybeans added 0.4pc to $9.12-1/4 a bushel, having closed down 1.6pc on Monday.

Published in Dawn, July 3rd , 2019