Malaysian palm oil price at 2-week high, tracks strength in crude oil

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange closed up 38 ringgit, or 1.8 percent, at 2,198 ringgit ($531.30) a tonne, after rising to its highest since Sept. 18 at 2,209 ringgit a tonne earlier in the session. Trading volumes stood at 44,514 lots of 25 tonnes each by the end of the session.

SINGAPORE: Malaysian palm oil futures gained 1.8 percent on Wednesday with the market hitting its highest in more than two weeks, underpinned by rising crude oil prices.

Strength in rival soybean oil provided additional support to the tropical oil but gains were capped by higher palm oil reserves in Malaysia, the world's second largest producer.