Palm oil extends rally on Indonesia’s plan for higher biodiesel rates
Malaysian palm oil futures extended gains to a fifth consecutive session on Tuesday, its longest rally in six weeks, amid top producer Indonesia’s plans to raise biodiesel blending rates.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange rose 47 ringgit, or 1.2%, to 3,971 ringgit ($912.03) a metric ton as of 0256 GMT, hovering near the one-month high hit in the previous session.
Read also
China to expand insurance coverage for grains, oilseeds and livestock
Paraguay may expand soybean area to 3.7 mln ha
Moldovan farmers threaten protests over VAT increase on grains and oilseeds
US rail fuel surcharges pressure grain prices for farmers during harvest
France may harvest smallest corn crop in 50 years
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon