Palm Oil Ends 2010 at Highest in 15 Years on Supply Outlook
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Palm oil futures advanced, ending 2010 at the highest annual closing price in at least 15 years, on concern global supplies of cooking oils will tighten after rains disrupted harvesting in Indonesia and Malaysia.
The March-delivery contract gained 1.5 percent to 3,788 ringgit ($1,230) a metric ton on the Malaysia Derivatives Exchange. The most-active contract rose 42 percent this year, the second straight annual increase, and ended at the highest since at least 1995, according to Bloomberg data.