Palm Oil Climbs on Speculation Lower Output Set to Cut Reserves
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Palm oil snapped a four-day losing streak on speculation that declining output may cut record inventories in Malaysia, the biggest producer after Indonesia.
The contract for March delivery advanced 1 percent to close at 2,413 ringgit ($793) a metric ton on the Malaysia Derivatives Exchange. Futures fell 4.4 percent in the four days through yesterday to close at the lowest price since Dec. 20.