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KUALA LUMPUR: Palm oil prices are expected to hold above 4,300 ringgit ($1,018) in the near term due to less soybean oil being available for export, demand for biodiesel and slower palm oil supply, the Malaysian Palm Oil Council (MPOC) said on Tuesday.
The MPOC said the sustainability of the price strength will depend on palm oil’s competitiveness against soybean oil in the export market.