Kuala Lumpur: Malaysian palm oil futures rose to their highest level in nearly two months on Monday, supported by a rise in May exports and optimism over a recovery in demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange rose 39 ringgit, or 1.7 per cent, to 2,331 ringgit ($540.33) a tonne by the midday break, its highest since April 9.

Palm oil jumped 10 per cent last month, its biggest monthly rise this year, as prices were boosted by hopes of lower output in May and resumption of purchases by India, the world’s largest edible oil consumer…