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Palm Oil Advances to Highest in 5 Weeks
December 29, 2011

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Palm oil climbed to the highest level in more than a month on concern that rains in Indonesia and Malaysia, the biggest growers, will disrupt harvests and as dry weather threatened to trim soybean crops in South America.

The March-delivery contract advanced 0.8 percent to close at 3,185 ringgit ($1,006) per metric ton on the Malaysia Derivatives Exchange, the highest since Nov. 21. Futures have plunged 16 percent this year, heading for the first annual loss since 2008. 

Bloomberg