Palm Oil Hits Highest Since 2024 as Biofuels, El Niño Cut Supply

🌐 Bloomberg (United States) —

AI Summary

Palm oil prices have reached their highest in about 20 months due to increased biofuel demand and supply risks from the strengthening El Niño weather phenomenon. These factors have significantly impacted production and pricing.

Palm oil climbed to its highest level in about 20 months, as rising biofuel demand and mounting production risks from the strengthening El Niño underpin prices.

Markets Commodities palm oil biofuels El Niño commodity prices production risks prices

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