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A Kuala Lumpur-based vegetable oil trader expects palm oil to keep its price premium for at least a few months. The view rests on falling production in Indonesia and Malaysia and rising Indonesian biodiesel demand, while buyers switch to cheaper rival oils.
Buyers substituting toward cheaper oils limits palm oil's price recovery, though tight output and biodiesel demand keep palm oil firm relative to competing vegetable oils.
reuters.comRajendra JadhavFeb 8, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
