Tighter soy oil supplies seen supporting Malaysian palm oil to $617/ton by midyear

In Malaysia, the New Straits Times reports that local investment banks believe palm oil prices could reach $617 per metric ton by midyear, up from current levels around $565 thanks to support from diminishing soybean oil supplies in both Argentina and the US. With soy oil prices up 8% so far this year, higher prices are supporting other vegetable oils including palm oil, and with demand ahead of Ramadan already pricing into the market, prices could increase further.

This entry was posted in Biodiesel Report. Bookmark the permalink.