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 rebounded on Tuesday from a three-day low to chart their strongest daily gain in a week, tracking stronger soyoil prices and supported by forecasts of weaker output.
Benchmark palm oil futures for June delivery on the Bursa Malaysia Derivatives Exchange rose 1 percent to 2,809 ringgit ($635) a tonne at the end of the trading day, the biggest daily gain since March 15.
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