Cash prices for palm oil and refined palm products were slightly mixed on the session on Tuesday April 2, in conjunction with seesaw activity in palm oil futures. US Gulf palm oil and palm olein indications dropped back from prior-day ranges but are still holding near one-year high levels.
On the Bursa Malaysia, the June palm oil contract shed early losses to close above 4,300 ringgit per tonne, at 4,312 ringgit per tonne. This was up 45 ringgit per tonne, or 1.05%.
In the US, palm oil has been losing market share to cheaper animal fats. Lower tallow values when compared to palm oil has resulted in some livestock reformulations in the US feed industry.
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