KUALA LUMPUR: Palm oil extended gains to close at a new 10-year high before a monthly report on Malaysian reserves and output, with stronger soyoil because of weather woes in South America providing support to the market.
While prices dipped into negative territory at one point yesterday, they rebounded to cap their fifth daily gain and appear to have the psychological level of RM4,000 per tonne in their sights, a mark last seen in 2008.
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