Palm Oil Futures Market Tracks Crude Oil Prices

from Business Times:

Seeing how palm oil and crude oil prices moved in rough lockstep last week, it was abundantly clear that this market is now hostage to crude oil.

Oil soared to an all-time high just above US$90 (US$1 = RM3.36) a barrel last Friday. And it was black gold's price trend that dictated the pace and fluctuations of the local (Kuala Lumpur)CPO market.

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