Palm oil prices hit two-year high following Malaysian floods
Palm oil prices are at the highest level since June 2022 after heavy rain and flooding hit Malaysian producers last month. Benchmark futures for the world’s second largest producer of the commodity reached US$1,170 per tonne last week.
According to a report published by Nikkei Asia, October’s yield was also down 7 percent on the same period in 2023.
With production volume reduced in Malaysia and Indonesia upping export tariffs, supply is tight, sending prices high, Nikkei Asia reports.
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.
Read also
Invest in the Best: What Attracts Investors in Agri Today
Markets no longer expect the Strait of Hormuz to open soon
Barley prices in Ukraine remain under pressure from declining export demand
Russian agriculture official dismissed amid mass livestock culling in Siberia
Turkey purchased 12 thsd tons of unrefined sunflower oil in a tender
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon