Indonesia’s biofuel mandate and higher export taxes underpin prices
Palm oil industry labourers at work. Picture: 123RF/TAN KIAN YONG
The most-used vegetable oil is expected to trade between 4,000 ringgit to 4,400 ringgit per tonne during the October-February period, before slightly dropping in March, Mistry, director at Godrej International, said at the Globoil conference on Saturday. Futures have averaged 3,908 ringgit so far this year, according to data compiled by Bloomberg.
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