B10 mandate lifts CPO price
PETALING JAYA: The increased mandated usage of palm oil as fuel and rising demand from key buyers are helping to pare down record-high inventory and boost the commodity price to its highest level since July last year.
The third-month crude palm oil (CPO) futures contract on Bursa Derivatives, the global benchmark, is 17% higher from its November low. At RM2,306 a tonne on Monday, the market has good reason to be bullish on palm oil.
After several delays, the B10 biodiesel programme has finally kicked off.
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