Palm oil advances for a fourth day

Palm oil gained for a fourth day, tracking rallies in equities and commodities after US retail sales increased by the most in four months, boosting optimism that demand for the tropical oil will expand. October-delivery palm oil gained 1.4 per cent to 3,058 ringgit a metric tonne in intraday trade on the Malaysia Derivatives Exchange in Kuala Lumpur. Malaysia's palm oil exports rose 26 per cent to 953,852 tonnes in the first 15 days of August from 752,047 tonnes in the same period in July, independent market surveyor Intertek said on Monday. India, the world's largest palm oil buyer, may boost imports to a record, gaining 10 per cent to about 7 million tonnes in the year ending October 31 from a year ago.