KUALA LUMPUR: Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of declines, on the strength of rival oils and crude oil prices.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 67 ringgit, or 1.58%, to 4,306 ringgit a metric ton during early trade.

Malaysian palm oil extends declines

The contract had shed 1.89% in the past two sessions.