Daily Archives: September 12, 2024

Palm oil ends higher on rising inventories

Malaysian palm oil futures ended marginally higher on Wednesday after industry data showed inventories in the world’s second-largest producer rose more than expected last month. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed up 16 ringgit, or 0.41%, at 3,901 ringgit a metric ton. On Tuesday, the Malaysian…

Global vegetable oil production continues to grow

Worldwide vegetable production continues to increase alongside rising demand, according to US Department of Agriculture (USDA) data reported by Germany’s Union for the Promotion of Plants and Protein (UFOP). Palm and soyabean oils were likely to be significantly more abundant in 2024/25, more than offsetting the decline in sunflower oil, the 22 August report said.…