KUALA LUMPUR: Malaysian palm oil futures rose 1 percent by close of trade on Wednesday, reversing losses from earlier in the day to chart a fourth straight day of gains on expectations that Malaysia's crude palm oil export duty for September could be a zero rate.
The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1 percent at 2,258 ringgit ($554.25) a tonne in the evening. The market earlier climbed to 2,265 ringgit, palm's strongest levels since July 10, helped too by a technical rebound.