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Malaysian palm oil futures fell more than 4% on Monday to 4,108 ringgit a tonne, pressured by a stronger ringgit and weaker rival vegetable oils. The Malaysian Palm Oil Council expects prices to trade between 4,000 and 4,400 ringgit through December, while flooding and tropical storms are expected to disrupt supplies into early 2023.
Weather-related supply disruptions in Malaysia and Indonesia provide support, but a stronger ringgit and softer soyoil pull prices lower. Net, the market is balancing near-term supply risk against currency and demand headwinds.
brecorder.comReutersNov 14, 2022Not enough comparable past events yet for a historical read.
Not 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.
