Palm oil prices rise 4% as higher energy costs lift biofuel spread margins

A rise in crude oil prices due to the war in the Middle East has pushed palm oil prices up 3.7% day over day, along with the highest daily traded volume of contracts, exchange data and market analysts said March 6. The rise in crude palm oil prices was attributed to the sharp fall in the spread between palm oil and gasoil prices, an indicator of margins for biofuel makers. The benchmark palm oilA rise in crude oil prices due to the war in the Middle East has pushed palm oil prices up 3.7% day over day, along with the highest daily traded volume of contracts, exchange data and market analysts said March 6. The rise in crude palm oil prices was attributed to the sharp fall in the spread between palm oil and gasoil prices, an indicator of margins for biofuel makers. The benchmark palm oilRead More