The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 108 ringgit, or 3.14%, to 3,543 ringgit ($872.88) a tonne during early trade.
KUALA LUMPUR: Malaysian palm oil futures jumped 3% to hit a near one-month high on Tuesday, as rival Dalian and soyoil strengthened ahead of a US Department of Agriculture (USDA) report that is pegged to show tighter global supplies.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 108 ringgit, or 3.14%, to 3,543 ringgit ($872.88) a tonne during early trade.
Palm rose for a fourth straight session to its highest since Jan. 15.
Investors are looking to the next USDA report due Tuesday, as well as Malaysian Palm Oil Board data due Wednesday.
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