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Malaysian palm oil: futures skyrocketed to an all-time high of MYR 6,354 a tonne in the last week of February and are now up more than 30% since the beginning of 2022.

Robust demand and supply constraints have been driving prices higher, while the Russia- Ukraine war lifted crude prices and boosted the appeal of tropical oil.

Malaysian Palm Oil Board’s estimated the country’s production in February fell 1.79% from the previous month, with exports rising faster than its output. Meanwhile, Indonesia, the world’s top producer, started requiring producers to sell 20% of their planned exports to the domestic market.