Palm Oil Increases on Speculation India Buying Before Festivals
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Palm oil gained on speculation that India, the largest consumer, is buying before the festival season this month and November.
The contract for January delivery, which has the largest open interest and volume, rose 0.2 percent to close at 2,471 ringgit ($815) a metric ton on the Malaysia Derivatives Exchange. The most-active contract has lost 22 percent this year, touching a three-year low this month, as demand slowed and reserves rose.