Malaysian palm oil price rises to 6-month high on industry outlook


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 gained for a third straight session to hit their highest in more than six months on Wednesday, as trading breached a psychological barrier and market was upbeat about the industry outlook.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange shot up 1.56 percent to 2,873 ringgit ($685.68).

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