Palm oil extends retreat from decade high on biodiesel worries

“Palm’s bullish sentiment may be temporarily paused on news that Malaysia will delay its 20% blending mandate, and Indonesia may defer its 40% blending, ” said Rajesh Modi, a trader at Sprint Exim Pte in Singapore.

KUALA LUMPUR: Palm oil futures fell for a second day from the highest level in a decade on worries about delays in biodiesel programmes in top growers Indonesia and Malaysia, although a tight supply outlook capped losses.

Prices in Kuala Lumpur climbed as much as 0.7% before dropping 0.8%, and then traded at 3,792 ringgit a ton by the midday break.