KUALA LUMPUR: Malaysian palm oil futures surged to their highest in five months on Tuesday, recording a third straight session of gains, in response to tight supplies and strength in rival oils. Palm oil output from Malaysia, the world's second-largest producer, is still showing lagging effects of last year's dry weather El Nino, resulting in lower than average crop yields. "Exports were also not too bad," the East Malaysian trader added, referring to export data from cargo surveyors which fell less than expected. Palm oil shipments from Malaysia fell 11-12 percent during the Sept. 1-20 period versus the same duration last month. Traders were expecting a sharper dip after record exports in August of 1.8 million tonnes, according to data from industry regulator the Malaysian Palm Oil Board.

Source: The Star September 20, 2016 11:03 UTC