Palm | Kelapa Sawit

FCPO-KUALA LUMPUR, Dec 24 (Reuters) - Malaysian palm oil rose for a fifth day on Friday as traders bet the weak output trend may extend to the first quarter of 2010 just as China restocks agri-commodities and prepares for Lunar New Year holidays.

Heavy rains in palm oil-producing Southeast Asia and a dry spell in soy-exporting South America have boosted vegetable oil markets in recent weeks.

Crude oil going above $90 a barrel could see palm oil and soyoil extend gains, traders say.

Benchmark March 2011 crude palm oil futures on the Bursa Malaysia Derivatives ended up 0.2 percent to 3,665 ringgit ($1,175.621).

Traded volumes stood at 11,642 lots of 25 tonnes each compared to the usual 10,000 lots.