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.
KUALA LUMPUR: Malaysian palm oil futures rose more than 2 percent to an eight-week high on Wednesday evening, tracking gains in U.S. soyoil on the Chicago Board of Trade and palm olein on China's Dalian Commodity Exchange.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 2 percent at 2,198 ringgit ($526.21) a tonne at the close of trade.
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