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Malaysian palm oil futures settled higher on December 29 but recorded a second straight annual loss, down about 10% for 2023. Dec 1-25 exports were estimated down 4% to 16% from the prior month.
A stronger ringgit and weaker crude and Dalian vegetable oils limited gains.
Weaker crude and softer export estimates point to subdued palm oil prices heading into 2024, reducing its appeal as a feedstock versus soyoil.
brecorder.comReutersDec 29, 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.
