Commodities 2024: Palm oil sees global recovery in 2024 on biodiesel demand, stagnant supplies
December 22, 2023 Comments Off
Palm oil prices are expected to average higher globally in 2024 as a stagnating production in main producers, Indonesia and Malaysia, along with growing demand for its use in making biodiesel will squeeze supplies in the coming year, industry experts said. In 2024, third-month crude palm oil futures on Malaysia’s commodity exchange are expected to average at MR4,000/mt ($856.44/mt), according…
Commodities 2024: Palm oil sees global recovery in 2024 on biodiesel demand, stagnant supplies
Palm oil prices are expected to average higher globally in 2024 as a stagnating production in main producers, Indonesia and Malaysia, along with growing demand for its use in making biodiesel will squeeze supplies in the coming year, industry experts said. In 2024, third-month crude palm oil futures on Malaysia’s commodity exchange are expected to average at MR4,000/mt ($856.44/mt), according…
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