KUALA LUMPUR: Malaysian palm oil futures rose on Monday, underpinned by higher crude prices and Indonesia’s plan to raise its biofuel mandate, although concerns over another COVID-19 outbreak in China capped gains.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 43 ringgit, or 1.1%, to 3,961 ringgit ($897.17) a tonne during early trade. It had lost 1.9% last week.