Palm Oil Rallies to Eight-Month High as Output Slows in Malaysia
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Palm oil rallied to the highest level in eight months on speculation that wet weather will disrupt harvests in Malaysia, keeping stockpiles in the second-largest producer below levels a year ago.
The contract for delivery in January advanced 1.4 percent to 2,497 ringgit ($794) a metric ton on the Bursa Malaysia Derivatives, the highest close for futures since Feb. 22. Palm for physical delivery in November was at 2,475 ringgit, data compiled by Bloomberg show.