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Malaysian palm oil futures reversed early gains to close down 0.05% at 3,922 ringgit per tonne on Tuesday, ending a four-session rally. Traders weighed softer demand from China and heavy Indian arrivals, plus a possible Indian hike in edible oil import duties.
Weaker Chinese and Indian import demand and a possible Indian duty increase cap palm oil prices despite supportive Indonesian output estimates.
brecorder.comReutersAug 27, 2024Not enough comparable past events yet for a historical read.
Not 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.
