Palm Oil Crashing Too

It’s not only the price of black gooey fossil oil that’s crashing. Palm oil is tanking as well:

Palm oil prices have nearly halved after hitting a peak in March, when surging crude oil prices boosted interest in the biofuels derived from palm oil.

Analysts blame the rapid plunge on a supply glut and a prolonged period of unusually good weather, in addition to the strengthening dollar, crude’s drop to $100 a barrel and speculators fleeing from commodity markets.