Biofuel appeal stokes bullish palm price outlook

Posted by Reuters: Niki Koswanage and Michael Taylor on March 9th, 2011
Reuters: Malaysian plans to subsidize biofuel and the launch of the world's biggest biodiesel plant in Singapore promise to give a fillip to the renewable fuel industry worldwide, planters and traders in the Malaysian capital said on Tuesday. The moves come as key feedstock palm oil soars to multi-year highs, riding crude oil prices driven higher by fears of spreading unrest in the Middle East that has cut Libyan exports. Benchmark palm oil prices have gained around 30 percent during the last 12 months,......

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