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Malaysian palm oil futures closed higher for a third straight week, gaining 4.77% to the highest since June 2022. Industry analysts at a Bali conference projected prices near 5,000 ringgit per tonne through June 2025 on tight supply.
Indonesia's planned increase in the biodiesel palm content to 40% would absorb about 3 million tonnes of extra feedstock, tightening supply. This supports palm oil and competing vegetable oil prices.
brecorder.comReutersNov 9, 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.
