KUALA LUMPUR: Malaysian palm oil futures edged higher on Friday, tracking stronger Chicago soyoil, but were set for a second consecutive weekly loss.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose RM45, or 1.05 per cent, to RM4,341 (US$966.17) a metric ton at the midday break.
The contract has declined 0.89 per cent so far this week.
"Crude palm oil futures were seen trading higher on the back of a strong recovery in overnight Chicago soyoil and during Asian hours today," said Anilkumar Bagani, head of research at Mumbai-based vegetable oil broker Sunvin Group.
