Global palm oil prices hit nine-year high

Global palm oil prices hit nine-year high

Global palm oil prices hit nine-year high   Palm oil prices surged to a nine-year high in January, following a fall in production in Malaysia and Indonesia, the world’s leading producers and exporters. Malaysia’s benchmark palm oil contract flagged off the year at near decade-high levels of $940.13 caused by a supply crunch in the demand of global edible oils. The two Southeast Asian countries with a combined estimate of 85 per cent global production saw a drop in inventory due to labour shortages caused by the effects of the…

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