Palm Oil Firms as Week Begins
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Malaysian palm oil futures rose to MYR 4,190 per tonne, supported by higher edible oil prices and a 9.97% increase in exports reported by Intertek. Anticipation of stronger demand for the Lunar New Year and Ramadan, along with tighter supply due to a projected 15%-17% drop in January output, also bolstered prices. However, gains were limited by a stronger ringgit and other external factors. The Malaysian Palm Oil Council forecasts prices to stay between MYR 4,000 and MYR 4,300 in February.
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