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Malaysian palm oil futures on the Bursa fell 1.2% to 4,758 ringgit/t (down 7.6% on the week) as demand weakened, especially from India, which shifted purchases toward cheaper soybean and sunflower oil. Malaysia cut palm oil exports in early December by 6.7-9.8% versus November.
Ukrainian sunflower oil demand prices also fell to $1,090-1,100/t.
Cheaper competing vegetable oils are pulling Indian demand away from palm, pressuring palm prices and dragging down sunflower oil values in the Black Sea.
ukragroconsult.comDec 17, 2024Not 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.
