Malaysian palm oil price hits 1-week high on technical buying

KUALA LUMPUR: Malaysian palm oil futures hit one-week highs on Wednesday, supported by technical buying and expectations of a slight rise in end-September inventory levels. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was up 1.2 percent at 2,715 ringgit ($642.45) a tonne at the close of trade, charting a second straight gain after four consecutive losing sessions

KUALA LUMPUR: Malaysian palm oil futures hit one-week highs on Wednesday, supported by technical buying and expectations of a slight rise in end-September inventory levels.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was up 1.2 percent at 2,715 ringgit ($642.45) a tonne at the close of trade, charting a second  straight gain after four consecutive losing sessions.