Interest in biofuel to boost palm oil prices further

Palm oil prices, which are on upward trend, are forecast to rise further from the current RM1,600 a tonne due to growing interest in biofuel, which has created a new demand for the commodity.

The Malaysian
Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said Monday the positive trend was also due to favourable developments in the global oils and fats market.

Daily Express