Ukraine-Russia conflict pushes palm oil above $1,907/mt for first time

In Malaysia, the Edge reports that the expected lack of sunflower oil from Ukraine and Russia due to the current conflict has pushed palm oil prices above per $1,907 metric ton for the first time ever. Analysts expect panic buying to continue until the situation in Ukraine improves. Together, Ukraine and Russia accounted for 60% of sunflower oil production the past two years and nearly 77% of exports. Soy oil prices are also expected receive support from the turmoil.

Category: Fuels