Palm Oil Climbs to Five-Month High on Higher Soyoil, Supply Worries

Malaysian palm oil futures rose more than 1.5% on Monday, extending last week’s sharp gains to hit five-month highs on stronger rival soyoil and concerns over supply.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose 42 ringgit, or 1.61%, to 2,656 ringgit ($622.89), its highest since Feb. 17, in early trade. Palm prices jumped 3.7% on Friday, adding 8.4% for the week, as heavy rains in top producers Indonesia and Malaysia fuelled worries about disruption to harvesting…

View entirety: Economic Times