Palm rises on stronger crude oil, weaker ringgit

Malaysian palm oil futures rose on Monday, as firmer crude oil prices, stronger rival edible oils and a weaker ringgit currency underpinned the market.

The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange gained 67 ringgit, or 1.7%, to 4,014 ringgit ($953.67) a metric ton at 0300 GMT.

The contract gained 3.5% last week after falling for two consecutive weeks.

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Tags: Malaysia, palm oil, futures, benchmark contract