Palm oil climbed to the highest level in a week on the outlook for improved demand and broader sector strength. There are expectations for better export demand this month, but rising output could cap price gains, said an analyst. He added that a recovery in crude also boosted the appeal of tropical oil as a biofuel. Soybean oil rallied almost 3% on Thursday, with the gains providing support to palm, he said. Futures in Kuala Lumpur have climbed to 4,000 ringgit a ton, which is considered a psychological level for the market.
