Futures contracts of crude palm oil were up on the Bursa Malaysia Derivatives, extending Monday's gains, after reports said production in the country could decline in August because of rainfall. The most active November futures contract traded at 2,742 ringgits (41,001 rupees) per tn, up 31 ringgits or 0.9% from Monday's close. Gains in prices of soy oil also supported crude palm oil. However, strength in the Malaysian currency against the dollar limited any further rise. A firm ringgit against the greenback is unattractive for sellers of palm oil.
Source : Newswire
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