Malaysian palm oil price sees strongest daily gain in 5 months

Higher biodiesel usage is an important factor behind improving CPO prices in 2016, as CPO is the main raw material for biodiesel.

KUALA LUMPUR: Malaysian palm oil futures clocked up their biggest daily gains in over five months in late trade on Wednesday, tracking rival edible oils and on a bullish export outlook for April due to Ramadan demand.

The month-long Ramadan sees Muslims in regions such as India and the Middle East consume more palm oil, as they break day-long fasts with meals.