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Palm gains over 1% on bargain buying; posts fourth monthly rise in 5 months
KUALA LUMPUR: Malaysian palm oil futures closed more than 1% higher on Friday, booking a fourth monthly rise in five, as bargain buying and firmer Dalian palm olein and Chicago soyoil supported prices. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 66 ringgit, or 1.43%, to 4,682 ringgit ($1,155.19) a metric ton at the close. The contract rose 1.56% this month after tumbling 5.8% in September, lifted by firmer crude oil prices and strong export demand, even as concerns over higher stockpiles weighed on prices. Crude palm oil futures traded...
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