Palm Oil Futures Trade Rose To 8-Weeks High

Crude Palm Oil Futures

COMMODITIES (B-Trams): Due to strong export demand, a weaker ringgit, and concerns about supply, Malaysian palm oil futures rose for the second day, reaching an 8-week high of 4270 MYR/T .

Cargo surveyors discovered that between January and February, exports of Malaysian palm oil  products increased by between 15.3% and 25.4%. In addition.

The Malaysian Meteorological Department issued a warning of danger-level continuous rain in the western regions, posing a risk of flooding and causing supply disruptions.

Also Read : Crude Oil Prices Surges As Rising Supplies And Chinese Demand Hopes

India and China may need to replenish their edible oil stocks in the coming months, further supporting prices.

In addition, concerns regarding India’s domestic production could be sparked by any unfavorable weather conditions.