Malaysian palm oil price extends rally for 7th day on stronger export data outlook


The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was last up 0.3% at 2, 219 ringgit ($529.97) per tonne at the close of trade, charting a seventh straight day of gains. It earlier rose by 0.5% to 2, 223 ringgit, its strongest levels since April 9.

KUALA LUMPUR: Malaysian palm oil futures extended their rally late on Wednesday, hitting their highest in four and a half months, supported by expectations of stronger export data.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was last up 0.3% at 2, 219 ringgit ($529.97) per tonne at the close of trade, charting a seventh straight day of gains.

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