1032 GMT - Palm oil rose in Asian trade. Prices were likely supported by the overnight strength in rival oil prices, as well as a potential of short covering activities ahead of public holiday extended weekend, Kenanga Futures writes in a note. However, weak export demand and concerns over palm oil's reduced competitiveness against soybean oil may have capped the upside, it adds. The Bursa Malaysia Derivatives contract for November delivery was 74 ringgit higher at 4,890 ringgit a ton.
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