Nomura: Palm oil prices have risen sharply, driven by the increase in crude oil prices.

Palm oil prices in the Asian market closed significantly higher. Nomura's Raghavendra Divekar stated in a report that palm oil prices may continue to rise due to the increase in crude oil prices. The analyst added that factors driving the price increase include the ongoing US-Iran conflict, concerns over declining inventory levels in Malaysia, and strong exports. The contract for delivery in May on the Malaysia Derivatives Exchange rose 203 ringgit to 4,570 ringgit per ton.