Malaysian palm oil price climbs to over 4-month high on bullish inventory data

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.5% at 2, 212 ringgit ($527.17) per tonne at the close of trade, its sixth straight days of gains. It earlier rose as much as 1.7% to 2, 217 ringgit, its strongest level since April 17.

KUALA LUMPUR: Malaysian palm oil futures rose to their highest in more than four months on Tuesday, extending a streak of gains, as data on July stockpiles came in lower than forecast.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.5% at 2, 212 ringgit ($527.17) per tonne at the close of trade, its sixth straight days of gains.