Palm oil futures strengthen as crude oil heads higher

July 23, 2013 | Meghan Sapp

In Malaysia, palm oil futures are reversing their weakening trend on the back of higher demand for both biodiesel and cooking oil. The past few weeks saw futures slip more than 5%, following 24% in losses during the past year, but prices have strengthened in past days. Crude oil prices are on the rise following shrinking reserves, which will put more interest on biodiesel as a cheaper alternative.

Category: Fuels

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