Crude palm oil prices fall for fourth week

04/22/2013 | Bloomberg

Prices for palm oil declined for the fourth straight week in response to fears that lower crude oil prices will drive down the demand for biofuels. “As crude oil prices declined sharply recently, biodiesel production may have dropped, reducing the demand for [crude palm oil],” said Sim Han Qiang of Phillip Futures Pte. He added that palm oil prices will be pressured “if crude oil prices continue their downtrend.”

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