Palm oil prices rise, boosted by strong potential demand.

David Ng, a trader at Iceberg X in Kuala Lumpur, said that palm oil prices are rising due to the strong performance of the soybean oil market, following the announcement by the Trump administration of plans to roll out biofuel quotas by the end of March. He added that Trump's measures could increase overall demand for soybean oil, which in turn would boost market sentiment for palm oil. Ng expects crude palm oil futures to find support at 4,000 ringgit per ton, with resistance at 4,100 ringgit per ton. The contract for March delivery on the Malaysian Derivatives Exchange closed up 80 ringgit at 4,071 ringgit per ton.