Palm oil futures rally above RM4,500 - highest in two months

KUALA LUMPUR (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives rallied above RM4,500 per tonne for October benchmark contract -- the highest in two months, on lower July palm oil stocks.

Palm oil trader David Ng said the Malaysian Palm Oil Board’s (MPOB) data reported lower-than-expected stock levels as well as weaker-than-expected production.