Palm oil rally seen continuing on biodiesel demand boost, analyst Mistry says
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Channel News Asia
PressNewsAgencyPalm oil rally seen continuing on biodiesel demand boost, analyst Mistry says
MUMBAI, May 6 : Malaysian palm oil prices are likely to rise about 12 per cent to 5,200 ringgit ($1,316) a metric ton by mid-July, as higher energy prices from the U.S.-Israeli war on Iran boost biodiesel demand and tighten supplies, analyst Dorab Mistry said on Wednesday.The benchmark palm oil contract on th
13:04 Palm oil producers are trading at a record high on the stock market. Due to oil shortages, Indonesia and Malaysia are mandating the blending of more palm oil into diesel, which supports demand.
Palm Oil Climbs On Malaysia Biodiesel Demand Expectations
Malaysian palm oil prices rose as investors reacted to optimism around the country’s planned B15 biodiesel rollout in June. The policy would lift the palm-based biodiesel blend in regular diesel to 15%, creating a larger domestic use case for crude palm oil. Traders are waiting for April production estimates from the Malaysian Palm Oil Association. Stronger output could limit further price support, while tighter production could make the biodies…
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