Malaysian palm future rise on biofuels demand, as oil hikes
In Malaysia, palm oil futures have risen 1.2% Monday on US reports expecting higher demand for biofuel given petroleum supply worries as a result of unrest in Libya and other parts of Northern Africa and the Middle East.
As the USDA expects more soybean oil to be used in biodiesel, demand for palm oil as a cooking oil—not as a biofuel—is expected to increase.
Category: Fuels
