The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed 2.2% higher at 2,256 ringgit ($538.68) per tonne, posting its strongest daily gains in three months. It rose as much as 2.6% to 2,265 ringgit earlier, the strongest level since Feb. 25.
KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Thursday, tracking gains in related edible oils on China's Dalian Commodity Exchange and on lower-than-expected palm production.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed 2.2% higher at 2,256 ringgit ($538.68) per tonne, posting its strongest daily gains in three months.
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