NEW DELHI: Palm oil futures surged to a two-year intraday high OF RM2,657 as reserves, output and export data from Malaysia, the world’s second-biggest producer, dealt the market a bullish surprise.
Stockpiles dropped 4.1% from a month earlier to 2.35 million tons in October, according to the Malaysian Palm Oil Board. That compared with an estimate of 2.54 million tons.
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