Palm Oil Gains as Malaysian Reserves May Drop on Output
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Palm oil gained on speculation that stockpiles in Malaysia, the world’s second-largest producer, may drop as production extends a decline.
The contract for delivery in April advanced 0.3 percent to close at 2,559 ringgit ($825) a metric ton on the Malaysia Derivatives Exchange. Futures were little changed this week. Malaysia’s financial markets will be closed on Feb. 11 and 12 for the Lunar New Year festival.