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Palm oil post first weekly gain in three weeks
KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday and posted their first weekly gain in three weeks, as forecasts of a price recovery in the coming months at a key industry conference boosted sentiment. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.5%, to 4,462 ringgit ($1,093.09) a metric ton at the close. The contract rose 4.79% this week. Leading industry analysts at the Indonesian Palm Oil Conference expect palm oil prices to recover in the coming months with the impact of El Niño-induced drought on pro...
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