Palm Oil Gains as China Data Boosts Prospects for Higher Demand

Palm oil climbed the most in more than a week after improved manufacturing data from China buoyed speculation that the economy is picking up in the second-largest buyer, lifting commodity prices.

The contract for January delivery advanced 1.6 percent to 2,537 ringgit ($831) a metric ton on the Malaysia Derivatives Exchange, the biggest gain at close since Oct. 22. Most-active prices dropped in October for a second straight month.