Futures for palm oil, soybean oil and rapeseed oil in China jumped on Tuesday following a stronger international crude oil price that rallied due to the uncertainty surrounding the ongoing Ukraine-Russia conflict.
The palm oil futures contract for May 2022 delivery on Dalian Commodity Exchange gained 3% on Tuesday to a new record high of 10,768 yuan/ton (US$1,698/ton), and the same contract for soybean oil ticked about 1% higher on the day to 10,216 yuan/ton (US$1,611/ton).
The main contract for...