Palm Oil Prices Extend Gains Thanks to Futures’ Uplift

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Palm Oil Prices Extend Gains Thanks to Futures’ Uplift

Alexandra Watts | 03.13.2024

Spot palm oil and products markets continued to move higher on Wednesday due mostly to ongoing strength in palm oil futures in Malaysia, traders said. U.S. Gulf palm oil and palm olein price assessments crossed above 52 cents per pound to levels not seen since May 2023. Palm oil values in the region climbed about two cents from last week.

The benchmark May palm oil futures contract closed in on 4,200 ringgit per tonne on Wednesday, to settle up 66 ringgit per tonne at...

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