Palm Oil Climbs For Fifth Day As Broader Markets Advance


KUALA LUMPUR:Malaysian palm oil futures rose for a fifth straight session on Wednesday to hit their highest in nearly two weeks, as gains in broader markets supported investor sentiment despite forecasts of ballooning inventories.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange gained 117 ringgit, or 3.24%, to 3,731 ringgit ($804.62) in early trade, hitting their highest since Sept. 23.