KUALA LUMPUR: Malaysian palm oil futures ended higher on Wednesday, recouping losses from two-month lows to follow gains in competing soy markets overseas.
The benchmark June contract on the Bursa Malaysia Derivatives Exchange had inched up 1.5pc to 2,615 ringgit ($810) per tonne by Wednesday's close. Prices had slipped to 2,573 ringgit on Tuesday, the lowest since Feb. 7, after a sharp gain in the Malaysian ringgit prompted a selldown in late trade.
A total of 33,914 lots of 25 tonnes were traded, with Indonesian investors absent from the market.
The US soyoil contract for May rose 0.8pc in late Asian trade, while the most active September soybean oil contract on the Dalian Commodities Exchange gained 0.2pc.
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