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Malaysian palm oil futures fell 3.86% to 3,987 ringgit on Friday, their biggest one-day drop in a month, and posted a 2.78% weekly loss. The decline followed weaker rival edible oils, lower crude oil and concerns about sluggish demand.
Palm oil moved lower with soyoil and crude, showing that weaker energy and competing vegetable oil prices are feeding into palm values. Continued sluggish demand would keep pressure on prices.
brecorder.comReutersOct 28, 2022brecorder.comReutersOct 28, 2022Not 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.
