Palm Oil Gains on Weaker Ringgit and Lower Production Outlook

Palm oil rebounded from a one-week low on a weaker Malaysian currency and expectations of lower production in the second-biggest grower in September.

Output trend in Malaysia has been lower this month, said Abdul Hameed, director of sales at Manzoor Trading Co. in Lahore. A further fall in the ringgit also attracted bargain buying as some traders are purchasing to cover October demand, he said.