(Bloomberg) -- Palm oil futures in Malaysia, the world's largest grower last year, rose as recent gains in the price of soybean oil, a rival product, may boost demand for the tropical commodity.
Palm oil and soybean oil, which can be substituted for one another, usually move in the same direction. Soybean oil in Chicago has gained for eight sessions, adding 6.5 percent, as soybeans rose to a five-week high. Vegetable oils, used for cooking and soaps, are also used to make alternative fuels.
Read more at Bloomberg Commodities News
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