JAKARTA: Malaysian palm oil futures opened higher on Friday, and were poised for a weekly gain, as traders tracked strength in rival oils at the Dalian market.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 43 ringgit, or 1.13%, at 3,847 ringgit ($821.48) a metric ton.

Palm oil ends lower with export data in focus

The contract has gained 0.71% so far this week.