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Malaysian palm oil August futures fell about 6% to USD 694 per tonne on June 7, their third consecutive monthly decline. Weak Chinese industrial data added pressure, and Malaysia's 2023 palm oil output is forecast at 19 million tonnes, up from 18.45 million in 2022.
Higher Malaysian output forecasts and weak Chinese demand signals point to softer palm oil prices, which can ease costs for feed fats.
tridge.comNur HameedJun 15, 2023Not 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.
