date:Mar 07, 2014
Malaysian palm oil futures rallied to end at a 17-month high on Thursday, following a recovery in China and US soy markets, while unfavourable crop weather in Southeast Asia continued to underpin prices. The US soyaoil contract for May rose 0.4 percent in late Asian trade, while the most active May soybean oil contract on the Dalian Commodities Exchange gained 0.6 percent. Higher prices of soyaoil could prevent buyers from switching to the rival vegetable oil.
The whole scenario changed after