JAKARTA: Malaysian palm oil futures climbed for a fourth straight session on Thursday on expectations of lower production and good export data from cargo surveyors.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 1.12% to 4,151 ringgit ($921.42) per tonne by midday break, extending a 6.74% gain over the previous three sessions.
"Good export figures and anticipation of lower production for Malaysia kept prices on positive note," a trader in Kuala Lumpur said.
Exports of Malaysia's palm oil products in the Nov. 1-20 period rose between 2.9% and 9.6% from a month earlier, data from cargo surveyors showed earlier this week.
The Nov. 1-25 exports data will be released later this week.
Meanwhile, Dalian's most-active soyoil contract gained 1.26%, while its palm oil contract rose 2.84%.
Palm rises on stronger rival oils, crude
The Chicago Board of Trade is closed for Thanksgiving holidays.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
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