JAKARTA (June 14): Malaysian palm oil futures gained on Friday as expectations of solid biofuel demand from rival producer Indonesia and lack of crude palm oil (CPO) sellers supported prices. Palm planters are not selling their crude palm oil to refiners as they seek better pricing amid a lull in production. Malaysian palm oil shipments dived more than 30% during June 1-10 versus the corresponding period last year. In other related oils, the September soyoil contract on the Dalian Commodity Exchange rose 0.7% and the Dalian September palm oil contract gained 0.6%. Palm oil prices are affected by movements in related edible oils, with which it competes for a global market share.

Source: The Edge Markets June 14, 2019 06:33 UTC