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Palm oil rebounded slightly after trading at a three-month low, as good supply and only a small rise in demand pushed prices lower over recent weeks. Coconut oil also fell after Sri Lanka cut its import levy, though desiccated coconut prices stayed firm.
Ample palm oil supply and currency effects keep palm prices under pressure, while coconut-oil weakness spreads into related vegetable oils. The rebound suggests limited near-term downside.
tmduche.comFeb 16, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Dated 16 Feb, it attributes the weakness to good supply, soft demand and currency, which are plausible drivers of the decline, though it mentions a slight rebound from the three-month low.
