Photo: Collected
Malaysian palm oil futures rose after crude oil surged and the ringgit weakened, improving biodiesel economics and export appeal.
What does this mean?
Palm oil tends to trade in a “veg oil complex” with soyoil and other edible oils, so strength in China and Chicago benchmarks can pull it higher too. But the bigger driver was energy: when crude jumps, biodiesel becomes more competitive, which can lift demand for palm as a feedstock. This move followed fresh worries about Middle East shipping routes, keeping oil markets jumpy. Meanwhile, a softer ringgit makes Malaysian cargoes cheaper in US dollar terms, which can support export demand even if global food cons..
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Source: Online/OFA
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