Palm Climbs to One-Week High as Malaysian Exports Signal Demand
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Palm oil advanced to the highest level in more than a week as shipments increased from Malaysia, the top producer after Indonesia, signaling a rebound in demand.
The contract for delivery in October advanced 1 percent to 2,259 ringgit ($696) a metric ton, the highest price at close since July 22 on the Bursa Malaysia Derivatives. Futures dropped 4.6 percent last month, the most since February, after reaching the lowest level since October 2009 on July 26.