Palm oil hits over three-week high on stronger Indonesian demand outlook
Malaysian palm oil futures rose for a fourth consecutive session on Monday to hit a more than three-week high, buoyed by improved demand prospects from top consumer Indonesia, although weaker exports limited gains.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 19 ringgit, or 0.49%, to 3,886 ringgit ($894.98) a metric ton as of 0235 GMT.
The contract hit an intraday high of 3900 ringgit, its strongest level since Aug. 2.
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