Palm oil rose to a maximum of a year and a half

Moscow. December 30. The price of palm oil in the environment continues to rise on fears of reduced 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 increased in the course of trading on the Malaysian derivatives exchange by 0.8% to 2504 ringgit ($582,8) per ton, the highest level since June 2014.

Since the beginning of the year prices rose by 10%, what is the best annual dynamics since 2010. In December, the growth was 6.3%.

According to analysts, the production of palm oil in Malaysia in December may decline by 20% in monthly terms.

The prices of refined palm oil for delivery in may on the Dalian commodity exchange rose on Wednesday 1 percent, up to 4864 yuan ($750) per tonne.

Soybean oil for March delivery on the exchange in Chicago rose 0.4% to 30.9 cents per pound, while the cost of soy beans for delivery in the same month increased by 0.5%, to $8,7025 per bushel.