Renewable Energy
Palm prices rise on Dalian's stronger Dalian and Indonesia's increased levy
Malaysian palm oils continued to rise on Wednesday. This was due to the stronger edible oils on the Dalian market, and Indonesia's decision of raising its palm oil export tax. By midday, the benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange had gained 50 ringgit or 1.15% to $4,416 ringgit (US$996.84). The futures trading resumed on a bullish tone mainly because Indonesia reaffirmed an increase in export levies for palm oil. Prices also gained strength after the bullish momentum of Dalian vegetable oils futures," Anilkumar Bagani said, head researcher at Sunvin Group. A plantation fund...