Palm oil ended higher, supported by positive sentiment arising from the start of Indonesia's B50 biodiesel mandate program, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The mandate requires a 50% palm-based blend. Stronger export performance also supported market sentiment, Ng says. Ng sees prices supported above 4,500 ringgit a ton and resistance at 4,680 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery rose 11 ringgit to 4,557 ringgit a ton. (kimberley.kao@wsj.com)
Dow Jones Newswires
Palm Oil Rises on Indonesia's Biodiesel Mandate — Market Talk
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Palm oil ended higher, supported by positive sentiment arising from the start of Indonesia's B50 biodiesel mandate program, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The mandate requires a 50% palm-based blend. Stronger export performance also supported market sentiment, Ng says. Ng…