Palm Oil Gains a Third Day as Drop in Output May Lower Reserves
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Palm oil climbed for a third day to the highest in more than a week on speculation that stockpiles in Malaysia may drop from a record as output falls and demand recovers in India and Pakistan.
The contract for delivery in March, which had the largest open interest, advanced 0.8 percent to 2,418 ringgit ($801) a metric ton on the Malaysia Derivatives Exchange, the highest level at close since Jan. 7. That helped trim losses to 0.8 percent this month.