Palm rebounds on firm Dalian soyoil, crude; set for second weekly gain

Malaysian palm oil futures recovered on Friday, Business Recorder reported, with prices heading for a second successive weekly advance. The November contract on the Bursa Malaysia Derivatives Exchange climbed 21 ringgit, or 0.43%, to 4,906 ringgit ($1,204.81) per metric ton in early trading.

Business Recorder attributed the rebound to firmer prices for rival Dalian soyoil and crude oil. So far this week the contract has added 0.2%, and these figures reflect early trade only, as reported.

The price is given in both ringgit and US dollars, which makes the level easier to follow for readers outside Malaysia and the region. The per-ton quote also gives a clear benchmark for the November contract at the time of the report.