Palm Oil Prices Rise on Stronger Crude Oil Prices
Palm oil prices ended higher as stronger crude oil prices improved the outlook for biodiesel demand. Elevated Malaysian inventories limited gains, trader David Ng said.
Palm oil prices ended higher on stronger crude oil prices, which improved the outlook for biodiesel demand. However, concerns over elevated Malaysian inventories continued to limit gains, says David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng expects CPO futures to find support around 4,600 ri…