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Malaysian palm oil futures fell for a third session as weaker rival edible oils and expectations of higher output weighed on prices. The Malaysian Palm Oil Association estimated July 1-20 production rose nearly 15% from a month earlier.
Indonesia is considering raising its palm oil biodiesel blend to 40% from 35% next year.
Faster output growth and weaker soyoil and crude oil reduce palm oil's appeal, pressuring prices. Indonesia's planned biodiesel increase is a potential supportive factor that partly offsets the bearish supply signals.
energynews.oedigital.comEnergy NewsJul 26, 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.
