KUALA LUMPUR: Malaysian palm oil futures jumped nearly 4% on Friday, tracking an overnight surge in prices of rival edible oils, although the contract was on course for a second weekly decline.
The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 126 ringgit, or 3.86%, to 3,390 ringgit ($735.36) a ton during early trade.
For the week, the contract has slipped 0.39% so far in anticipation of rising production and inventories.
Source: Brecorder
