Malaysian palm oil futures closed higher on Thursday, reaching their highest level in more than three months.
The rally was driven by growing concerns over supply constraints and improving demand prospects from the biodiesel sector.
75% in the session, reflecting the cross-asset correlation between major vegetable oils.
The move marks a significant shift in sentiment for the commodity, which had previously faced pressure from rising stockpiles.
The price surge in palm oil rippled across the broader edible oil complex.
Dalian’s most-active soybean oil contract gained 0.75% in the session, reflecting the cross-asset correlation between major vegetable oils.
Traders are increasingly pricing in tighter near-term supply as weather-related risks and logistical bottlenecks weigh on production forecasts.