Palm oil advances to nine-day high on rising exports, weak ringgit

KUALA LUMPUR: Malaysian palm oil futures jumped for a second straight session on Wednesday and hit a nine-day high after a surge in exports during the first half of August and as the ringgit weakened.

India’s July palm oil imports hit 7-month high

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange gained 38 ringgit, or 1%, to 3,843 ringgit ($828.77) per metric ton during early trade, its highest since Aug. 7.