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Palm oil prices rise amid optimism about demand for exports from Malaysia. Vegetable oil prices rose over May 24-30, with palm oil futures increasing amid supply concerns and optimism on palm demand in the near term. Malaysian palm oil futures rose on Wednesday, influenced by concerns about potential Indonesian supply disruptions and optimism about robust Malaysian exports this month.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange increased by 24 ringgit, closing at 3,892 ringgit ($827.73) per metric ton. A trader based in Mumbai noted that the decline in the Malaysian ringgit and a rise in US soyoil futures bolstered the market, making palm oil more attractive to holders of foreign currencies. Malaysian palm oil exports fell between 8.3% and 9.6% from the previous month for the period of May 1-20, but production is gaining momentum, necessitating an acceleration in exports to prevent further stock accumulation.

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