Palm oil futures strengthen as crude oil heads higher

July 23, 2013 |

In Malaysia, palm oil futures are reversing their weakening trend on the back of higher demand for both biodiesel and cooking oil. The past few weeks saw futures slip more than 5%, following 24% in losses during the past year, but prices have strengthened in past days. Crude oil prices are on the rise following shrinking reserves, which will put more interest on biodiesel as a cheaper alternative.

Category: Fuels

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