Institution: Palm oil prices may remain above 4,450 ringgit per ton.

The Malaysian Palm Oil Council stated in a report that with strong energy prices and favorable palm oil-diesel differentials, palm oil prices are expected to remain above 4,450 ringgit per ton in the near future. The council noted that plant oil prices have risen, led by palm oil, amid disruptions in Middle East crude oil supply. The increase in crude oil prices may enhance the appeal of palm oil as a biofuel alternative. However, MPOC added that slowing global economic growth and geopolitical uncertainties in the Middle East could delay purchases by major buyers, potentially limiting further upside potential.