KUALA LUMPUR: Malaysian crude palm oil futures jumped more than 2% on Thursday to a new high on a combination of concerns over global supplies from South America and surging demand from Asia. But the market lost some of the gains in the evening session as players booked profits.

The benchmark March contract on the Bursa Malaysia Derivatives Exchange finished up 17 ringgit at 3,097 ringgit ($929) per tonne after hitting a high of 3,150 ringgit.

Palm oil prices have risen more than 55% so far this year, while soya oil prices have surged close to 68 percent. Shares of Malaysian palm plantation firms, which have hit new highs on bullish prices, extended gains on Thursday.

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