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Malaysian palm oil futures inched higher on Wednesday, snapping losses from the previous session, supported by stronger Chicago soyoil and firmer crude oil. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 11 ringgit, or 0.28%, to 3,994 ringgit ($943.32) a metric ton in early trade.

The High Commissioner of Malaysia to Nigeria, Aiyub Omar, has said that the thriving palm oil trade between Malaysia and Nigeria has significantly enhanced bilateral relations between the two countries. Omar who disclosed this in Abuja during a chart with newsmen, noted that the growth in palm oil trade reflects a strong commitment to agricultural

India’s palm-based exports are expected to double in the next three to five years, helped by strong digital traceability systems and growing awareness around sustainability and compliance. “The value is around $200 million annually today. We expect this to double,” said Ashwin Selvaraj, Chief Strategy & Digital Transformation Officer at the Roundtable on Sustainable Palm