The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange rose 0.8 percent to 2,839 ringgit ($670.21) a tonne on Monday evening, a fourth straight session of gains. It rose to a high of 2,855 ringgit in its early session, the strongest since Sept. 15. Traded volumes stood at 34,818 lots of 25 tonnes each at the close of trade.
KUALA LUMPUR: Malaysian palm oil futures rose on Monday to their strongest in a month and a half, tracking gains in rival edible oilseed soy on the Chicago Board of Trade (CBOT).
A stronger export outlook and weaker-than-expected production growth were other factors supporting the positive sentiment, said traders.
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