Palm oil increased to an all-time high of 6472 MYR/T, buoyed by stronger demand as the conflict in Ukraine is putting pressure on prices of crude oil and other vegetable oils. Meanwhile, supply remains limited. Malaysian Palm Oil Board’s estimated the country’s production in February fell 1.79% from the previous month, while exports for Feb. 1-25 rose over 25.1% to 1,095,753 tonnes from 876,056 tonnes shipped during the same period of January. Also, Indonesia, the world’s top producer, started requiring producers to sell 20% of their planned exports to the domestic market.
