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Malaysian palm oil futures fell to their lowest since October on December 1, heading for a second weekly loss. Exports for November were estimated up 2% to 11% from October.
Analysts cited a lack of fresh buying from key destinations and higher stocks, and OPEC+ voluntary crude cuts that fell short of expectations.
Weak import demand and higher stocks weigh on palm prices, and weaker crude reduces palm's attractiveness as biodiesel feedstock.
brecorder.comReutersDec 1, 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.
