Palm Oil Rallies on Tighter Supply, Firm India Demand
Malaysian palm oil futures surged over 2-1/2% to around MYR 5,015 per tonne, extending recent gains as trade resumed after a holiday. A weaker ringgit and expectations of tighter supply underpinned sentiment, with Indonesia’s B50 biodiesel mandate set to divert more palm oil to domestic use and El Niño risks clouding o