Palm oil climbed to its highest intraday level in more than a week on stronger soybean oil and hopes of higher exports of the tropical commodity from the second-biggest grower Malaysia. The bullish sentiment in US soybean and soy oil markets has spilled over to vegetable oils in Dalian and Kuala Lumpur, said a trader. In Kuala Lumpur, benchmark palm oil prices jumped as much as 2.8%. The tropical oil market was also supported by expectations of strong exports from Malaysia as the commodity traded at a discount to soybean oil, said a trader. Shipments from the Southeast Asian nation increased almost 12% during the first 20 days of April from a month earlier, according to Intertek Testing Services. (Source:Bloomberg)
