(Feb 29): Malaysian palm oil futures rose on Monday, extending gains for a third session, as traders expect to see inventories dip below the 2 million tonne mark at the end of February.
Traders said that palm also gained on a technical correction despite lower export data, following a five-day fall last week. Palm futures had lost 1.7% last week.
The palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was up 0.2% at RM2,548 (US$606.67) per tonne at the close.
Traded volume stood at 31,134 lots of 25 tonnes each.
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