Malaysian palm rises for third session, underpinned by overnight Chicago soyoil
Malaysian palm oil futures increased for a third session on Friday, supported by strength in overnight Chicago soyoil following a report that US oil and biofuel producers agreed in principle to raise the mandate for renewable diesel and biodiesel.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 69 ringgit, or 1.6%, to 4,381 ringgit ($989.16) a metric ton in early trade.
The contract has gained 0.14% for the week and is expected to log its first weekly gain in three weeks.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
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