Palm oil prices seen reaching 5,200 ringgit by mid-July
Analyst Dorab Mistry expects palm oil to reach 5,200 ringgit by mid-July. High energy prices and Indonesia's B50 mandate are driving global biodiesel demand.
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Malaysia palm oil prices will rise 12% to 5,200 ringgit by mid-July as energy costs drive biodiesel demand. Prices are up 15% since the United States-Israel war on Iran began in late February. Tightening supplies and new biofuel mandates in Indonesia signal a prolonged price rally for edible oil investors.
