Palm Oil Jumps to Seven-Month High as Inventory Concerns Ease
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Palm oil gained for a fourth day to the highest level in seven months on speculation that output in Malaysia may increase at a slower pace, capping inventories in the world’s second-largest producer.
The contract for delivery in January advanced 1.1 percent to 2,482 ringgit ($784) a metric ton on the Bursa Malaysia Derivatives, the highest price at close for most-active futures since Mar. 22. Palm for physical delivery in November was at 2,440 ringgit today, data compiled by Bloomberg show.