Loading…
Malaysian palm oil futures fell for a fourth straight week, with the February contract down about 6% over the four weeks. Malaysian palm oil product exports in the first half of December fell 13.6% month-on-month, per Intertek.
Support came from lower inventories and production losses in Malaysia and Indonesia.
Weak export pace is bearish for palm oil, which competes with soyoil and other vegetable oils and feeds into oilseed meal and feed fat markets. Production shortfalls partly offset the demand weakness.
brecorder.comReutersDec 15, 2023Not 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.
