Palm hits fresh 10-week high on Indonesia weather concerns

A fire fighter carries hoses as he walks on a burnt filed at a palm oil plantation in Tapung, Riau province, Indonesia, Thursday, Aug. 1, 2019. A spate of forest fires burning throughout Indonesia has prompted six provinces to declare a state of emergency as thousands of security forces have deployed to extinguish fires.

KUALA LUMPUR: Malaysian palm oil futures hit a fresh 10-week high on Wednesday during the second half of trade, boosted by lingering concerns that dry weather in Indonesia could impact output.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange earlier rose as high as 2, 109 ringgit ($503.82) per tonne, their highest since May 29, but pared some gains and ended the day flat at 2, 102 ringgit.