Palm Oil Futures Hit Three-Month High on July 23 Amid Supply Concerns

According to reporting on July 23, palm oil futures rose to a three-month high as markets anticipated tighter supply. Biodiesel demand outlook improved amid rising crude oil prices and geopolitical tensions. Key drivers include El Niño-related risks, expected production declines in Q4 2026 and H1 2027, and pre-festival restocking demand in India. Malaysia's meteorological department cited strengthening El Niño conditions raising concerns about palm oil yield reductions.
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