Malaysian palm oil price jumps to one-week top on weather outlook

The benchmark palm oil contract price for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at 2,762 ringgit ($655.20) a tonne at the close of trade. It earlier rose to a daily high of 2,766 ringgit, the best level since Sept. 27. Traded volumes stood at 44,760 lots of 25 tonnes each at the end of the trading day.

KUALA LUMPUR: Malaysian palm oil futures jumped to a one week top on Wednesday evening, charting a second straight day of gains, over concerns that rainy weather could lower production.

    The benchmark palm oil contract for January delivery  on the Bursa Malaysia Derivatives Exchange was up 1.3 percent at 2,820 ringgit ($666.98) a tonne at the close of trade, its strongest daily gain in over two weeks.