Palm oil is riding its longest weekly winning streak since January 2022. Despite a minor dip on Friday, the benchmark price is up over 4% for the week, fueled by strong export demand and rising global commodity prices.
🌍 Why the Surge?
- Soybean Oil rallied over 18% in June after the U.S. approved new biofuel blending mandates.
- Crude Oil jumped nearly 20% amid Middle East tensions.
- Malaysia’s exports rose sharply: +10.88% in the first 20 days of June vs. May.
📦 Big buyers like China are sourcing record soybean volumes from Brazil due to U.S. trade tensions—shaping global oilseed flows.
🛢️ Palm oil remains a key player in food and biofuel markets. Keep an eye on demand trends to gauge the rally’s staying power.
