RFS continues to support Malaysian palm oil prices

In Malaysia, palm oil futures prices continue to be supported by the EPA’s announcement on RFS that is expected to create more demand for biodiesel, helping to push prices up 10% since the end of April. As palm oil is currently the cheapest vegetable oil, it is seeing increased demand from China who was a key destination in May where exports reached 1.61 million tons, up 37% over April.