KUALA LUMPUR, Jan 6 (Reuters): Malaysian palm oil futures rose to a two-month high on Tuesday as the ringgit slumped to a 5-1/2-year low and floods raised the prospect of tighter supplies.
The Malaysian ringgit fell to its lowest level since July 2009 at 3.5550 per dollar - making palm a cheaper vegetable oil option for foreign investors - and the currency is expected to continue to underperform.
"A weaker ringgit will mean the Malaysian Derivatives Exchange will be supported," said one trader with a foreign commodities firm in Kuala Lumpur.
Malaysian palm oil futures rise
FE Team | Published: January 07, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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