Malaysian Crude Palm Oil Futures May Rise on June 22 Amid Oil Rebound and Biofuel Demand

According to Jin10 Futures, Malaysian Bursa Malaysia Derivatives crude palm oil futures may open higher on Monday, June 22, supported by stronger biofuel demand outlook and a rebound in international crude oil. The benchmark September 2026 contract rose 1.57% to 1,122.7 USD per metric ton on Friday. Brent crude futures climbed 0.72 USD to 80.57 USD per barrel on Friday and surged further on Monday after Iran announced the closure of the Strait of Hormuz.

Indonesia's plan to implement B50 biodiesel blending mandate starting July 1 is expected to boost domestic palm oil consumption and tighten export supply, further supporting palm oil futures.

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