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Palm rises for second day on El Nino worries, but set for weekly decline

KUALA LUMPUR: Malaysian palm oil futures rose for a second straight session on Friday as stronger rival oils and concerns about the impact of El Nino stoke buying interest, although the contract is set for a weekly slump on poor exports.

Palm oil claws back partial gains, weak exports limit

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 63 ringgit, or 1.92%, to 3,342 ringgit ($753.55) a tonne during early trade. For the week, the contract has declined 6.2% so far.

Palm rises for second day on El Nino worries, but set for weekly decline

Source: Brecorder

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