Palm Oil Posts Second Monthly Gain as Indonesia Output Declines
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Palm oil posted a second monthly advance as production in Indonesia, the world’s largest supplier, is set to decline this year as weather curbs yields.
The contract for February delivery closed little changed at 2,654 ringgit ($823) a metric ton on the Bursa Malaysia Derivatives. Futures, which rallied to a 14-month high of 2,692 ringgit on Nov. 22, advanced 2.4 percent this month. The commodity is headed for the first annual increase since 2010.