Palm oil reaches five-month high on output concerns

Malaysian palm oil futures rose more than 1 percent on Friday evening, charting a third straight day of gains, supported by a weaker ringgit MYR= and rising related edible oils.

KUALA LUMPUR: Malaysian palm oil futures extended gains on Tuesday evening to five-month highs on concerns about production, and tracking advances in related edible oils.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 1 percent at 2,737 ringgit ($639.64) at the close of trade, its fourth straight session of increases.