Malaysian palm oil futures rise for the fifth consecutive session due to weak production and increased Indian imports.
Malaysian palm oil futures rose for the fifth consecutive session due to weak production and the Dalian market, with production forecast to decline 6.3% from the previous year. India's palm oil imports increased by 3% in June, reaching a six-month high at 788,000 metric tons, driven by lower prices and robust demand from refiners ahead of festivals. This surge could support benchmark Malaysian palm oil futures, which are nearing their highest level in over two months.
July 02, 2024
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