Malaysian palm oil price up for 4th day on short-covering, higher demand

CPO output fell to 3.90 million tonnes in November, from 3.95 million tonnes in October, according to the median estimate in a survey of two industry groups and a state research firm.

KUALA LUMPUR: Malaysian palm oil futures rose for a fourth consecutive session on Thursday, hitting a one-week top on short-covering and expectations of higher demand ahead of Ramadan.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was 0.2 percent higher at 2,445 ringgit ($624.04) a tonne at the close of trade, after three previous sessions of gains.