Palm oil rises

KUALA LUMPUR: Malaysian palm oil futures rose on Thursday, touching a six- month high, as they tracked a rally in Dalian´s palm olein contract higher although market stayed cautious ahead of price outlook.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 0.3 percent at 2,882 ringgit ($686.35) by the midday break. Earlier in the session, it hit 2,893 ringgit, its highest since March 6. Trading volumes stood at 20,154 lots of 25 tonnes each, slightly below the previous session´s midday level. A Kuala Lumpur-based futures trader said palm will likely continue to be supported by ongoing strength in Dalian palm olein futures. —