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Malaysian Palm Oil Futures Rise for Second Consecutive Day on Monday

GateNews
Commodities

According to reports, on Monday, May 18, Malaysian palm oil futures rose for a second consecutive trading day, supported by strength in Dalian palm oil, Chicago soybean oil, and crude oil prices, as well as a weaker Malaysian ringgit. Meanwhile, Malaysia lowered its June crude palm oil reference price to maintain export duties at 10%. Data from inspection agency AmSpec showed that Malaysia’s palm oil exports from May 1-15 are estimated to have declined 16.5% compared to the same period last month.

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