Palm Oil Climbs for Second Day as Malaysian Exports Set to Gain
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Palm oil advanced for a second day on speculation that shipments from Malaysia, the second-largest producer, will rise this month as exporters boost sales before a tax increase in March.
The contract for delivery in May climbed 1.2 percent to close at 2,566 ringgit ($828) a metric ton on the Malaysia Derivatives Exchange in Kuala Lumpur. Futures have gained 5.3 percent this year after a 23 percent slump in 2012.