Palm oil gains on stronger crude, soyoil

 KUALA LUMPUR: Malaysian palm oil futures firmed on Tuesday as trading resumed after a long weekend, with stronger crude oil and rival soyoil supporting the market ahead of the official May supply and demand data.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange rose 20 ringgit, or 0.85%, to 2368 ringgit ($555.87) a tonne in early trade. It rose 2.4% last week in its fourth straight weekly gain. 

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