Malaysian palm oil price hits highest in more than a month

Lower production: Export of palm oil products declined by 8.2% in 2016 to 23.29 million tonnes from 25.37 million tonnes a year ago, mainly due to lower production.

KUALA LUMPUR: Malaysian palm oil futures surged to more than a one-month high late on Wednesday on the back of forecasts for lower production in June.

But trading volumes were thin as the soyoil market on the Chicago Board of Trade (CBOT) was still closed for the U.S. Independence Day holiday, traders said.