Thailand's ban will help raise international palm oil prices

Gold Ten Futures November 1st news, since September, by Indonesia's palm oil production is less than expected, the proportion of biodiesel blending plan to increase and other factors, international palm oil prices continue to rise. Recently, Thailand temporarily banned palm oil exports, according to the US Department of Agriculture data, 2023/24 Thai palm oil production 3.60 million tons, nearly 5 years average 3.18 million tons; export volume 950,000 tons, nearly 5 years average 730,000 tons. Thailand is the third largest palm oil producer after Indonesia and Malaysia, Thailand is expected to ban the order may help palm oil prices.