Palm Oil Climbs to Three-Month High as Exports Seen Gaining Pace
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Palm oil rallied to the highest level in almost three months on speculation that exports from Malaysia, the second-largest producer, will probably increase after Indonesia set higher taxes on February shipments.
The contract for delivery in April climbed 1.4 percent to 2,510 ringgit ($813) a metric ton on the Malaysia Derivatives Exchange, the highest price at close for the most-active contract since Nov. 1. Futures, 3 percent higher in January, are heading for the biggest monthly advance since March.