Palm oil advanced on speculation that heavy rainfall and flooding may hamper harvesting in Malaysia, the second-largest producer, drawing down record stockpiles.
The contract for March delivery jumped much as 1.4 percent to 2,472 ringgit ($814) a metric ton on the Malaysia Derivatives Exchange, before trading at 2,462 ringgit at 11:37 a.m. in Kuala Lumpur. Futures lost 23 percent last year as inventories in Malaysia climbed to an all-time high... Read the full article here
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