Malaysian palm oil price gains for a 3rd day, stockpile concern looms

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 0.32 percent to 2,188 ringgit ($528.50) per tonne by the midday break. Palm oil posted a combined 1.8 percent gain in the previous two sessions, after hitting a three-year low last week.

JAKARTA: Malaysian palm oil futures were headed for a third day of gains on Wednesday, but the rally may lose steam on concerns about rising stockpiles, traders said.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 0.32 percent to 2,188 ringgit ($528.50) per tonne by the midday break.