Palm Oil Climbs as Slump to Lowest in Four Months Spurs Buying
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Palm oil advanced for the first time in three days on speculation that a drop to the lowest level in more than four months was overdone.
The contract for July delivery gained 0.8 percent to close at 2,272 ringgit ($743) a metric ton on the Bursa Malaysia Derivatives. Futures lost 2.3 percent in the two days through yesterday when they dropped to 2,255 ringgit, the lowest closing level since Dec. 13.