Palm open higher on firmer rival Dalian, crude oil

According to Business Recorder, Malaysian palm oil futures moved higher on Monday, marking a second consecutive session of gains. The advance was attributed to firmer prices at rival Dalian oils and to crude oil. Both factors lifted the commodity in early trading.

In early trade, the benchmark November contract on the Bursa Malaysia Derivatives Exchange gained 29 ringgit, equal to 0.59 per cent. It was quoted at 4,958 ringgit ($1,225.71) per metric ton, according to the report.

The report describes a regional commodity move rather than a development at any listed company. Because the figures cover early trade only, the closing level was not included in the text, so the picture remains partial.