Palm oil rose to a maximum of 17 months

Moscow. December 22. The price of palm oil rose on Tuesday to a maximum of 17 months, reported a reduction in the production of this raw material in Malaysia, second after Indonesia supplier of this type of oil on the world market, reports Bloomberg.

The price of palm oil for March delivery rose by the end of trading on the Malaysian derivatives exchange 1% to 2468 ringgit ($574,7) per ton, the highest level since June 2014.

According to a survey conducted by the Agency among industrial companies, the stocks of palm oil in Malaysia declined from the beginning of December to 18.2% in monthly terms.

In addition, the prices of refined palm oil for delivery in may on the Dalian commodity exchange rose on Tuesday by 0.4% after rising 2.8% on Monday, which also supports quotes on oil in Malaysia.