Malaysian palm oil futures rise thanks to B7 mandate announcement

June 1, 2016 |

In Malaysia, palm oil futures jumped to a near-three week high at $637 per metric ton on news about the B7 blending mandate that went into effect on Wednesday. A weaker ringgit is also helping to support prices, which were just a few points off of a major technical resistance level that if broken could see prices jump another $15 per ton. Soybean and soyoil markets, which track palm oil closely, were trading higher as well mid-week but not as significantly as CPO.

Category: Fuels

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