Malaysian palm rises for third session, underpinned by overnight Chicago soyoil

Malaysian palm oil futures rose for the third consecutive session on Friday, boosted by a report of an agreement among US oil and biofuel producers to increase the mandate for renewable diesel and biodiesel, leading to strength in overnight Chicago soyoil. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange surged by 1.6% to 4,381 ringgit ($989.16) a metric ton. This marks its first weekly gain in three weeks, with a marginal increase of 0.14% for the week. Additionally, the article announces the upcoming 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv, where discussions on the development of the grain sector in the Black Sea and Danube region are expected to take place.

Malaysian palm oil futures increased for a third session on Friday, supported by strength in overnight Chicago soyoil following a report that US oil and biofuel producers agreed in principle to raise the mandate for renewable diesel and biodiesel. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange gained 69 ringgit, or 1.6%, to 4,381 ringgit ($989.16) a metric ton in early trade. The contract has gained 0.14% for the week and is expected to log its first weekly gain in three weeks. Further development of the grain sector in the Black Sea and Danube region will be ...