Palm for November delivery on Bursa Malaysia Derivatives rises as much as 2.3% to RM2,800/ton, before trading at RM2,792 by midday break; -8.5% YTD.
KUALA LUMPUR: Palm oil futures headed for their highest close in almost seven months on expectations of a decline in stockpiles in second-biggest producer Malaysia and increased buying by India in the coming weeks.
The South Asian country, the cooking oil’s biggest importer, will celebrate several festivals in October and November.
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