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Malaysian palm oil futures rose 1% to 3,656 ringgit per tonne on Jan 4, ending four sessions of losses. The rise followed a Reuters survey showing lower end-December inventories and firmer crude oil prices linked to Libyan supply disruption and Middle East tensions.
Lower stocks and stronger crude make palm more attractive as biodiesel feedstock, which supports prices for feed-chain vegetable oils.
brecorder.comReutersJan 4, 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.
