Malaysian palm oil price hits 1-week top in 3rd straight day of gains

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 1.5 percent at 2,538 ringgit ($621.91) a tonne at the close of trade, its third consecutive day of gains. It earlier rose to 2,541 ringgit, its strongest level since Dec. 18.

KUALA LUMPUR: Malaysian palm oil futures over 1 percent in their second half of trading on, charting a third consecutive session of gains, asbullish sentiment on declining production lifted the market.

The benchmark palm oil contract for April deliveryon the Bursa Malaysia Derivatives Exchange rose 1.1 percent to2,521 ringgit ($644.59) a tonne at the end of the trading day.