Palm oil price up for third day ahead of data, budget

The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was last up 0.7% at 2,175 ringgit ($518.85) per tonne at the close of trade at 1000 GMT, its biggest daily gain since Oct. 1.

KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday to mark a third straight day of gains, as traders expected a slower than forecast pace of growth in monthly output and awaited cues from the country's national budget announcement for next year.

The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was last up 0.7% at 2,175 ringgit ($518.85) per tonne at the close of trade at 1000 GMT, its biggest daily gain since Oct. 1.