Malaysian palm oil futures rose on Monday

Malaysian palm oil futures rose on Monday as falling inventories and concerns over production due to dry weather conditions pushed prices higher. The benchmark palm oil contract for March delivery on the Malaysian Derivatives Exchange Bursa rose 35 ringgit, or 0.94%, to close at 3,746 ringgit ($802.45). “Concerns over palm oil production in Malaysia and Indonesia and falling stock levels have kept prices at a sustainable level,” a Mumbai-based dealer said, Reuters reported. Malaysia's palm oil stocks fell at the end of November for the first time in seven months as production fell more than exports, industry regulator data showed on Tuesday. However, a slowdown in exports limited growth. Exports of Malaysian palm oil products fell 13.6% month-on-month to 591,490 metric tons in the first half of December, surveyor Intertek Testing Services said on Friday. Soybean oil futures fell 0.4% on the Chicago Board of Trade. Indonesia plans to set the benchmark crude palm oil price at ...