KUALA LUMPUR: Crude palm oil (CPO) futures for March delivery extended their advance to a record for the contract on optimism that surging prices for rival soybean oil and petroleum will increase the appeal of the tropical oil in food and biofuels.
“Palm is up in line with a rising soy complex and crude oil prices,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental.
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