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Palm oil futures in Malaysia dropped 31% in the July-September quarter, their biggest quarterly fall since 2008. Rising inventories in top growers and recession worries outweighed strong September exports.
The steep quarterly decline reflects oversupply and weaker edible oil demand, which lowers vegetable oil costs for feed and food buyers.
businesstoday.com.mySep 30, 2022Not 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.
Rising inventories in top growers and recession worries explain the 31% quarterly drop, which is the supply-glut backdrop for the sharp decline.
