Malaysian palm oil price hits near 5-month high on lower production outlook

Malaysian palm oil futures rebounded from a one-week low on Friday, tracking rises in crude oil prices.

KUALA LUMPUR: Malaysian palm oil futures hit their highest in nearly five months on Thursday on expectations of falling production.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was up 0.6 percent at 2,297 ringgit ($554.94) a tonne at the close of trade, its fifth straight session of gains.