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Malaysian palm oil futures fell more than 2.5% on Tuesday, on track for a fourth drop in five sessions. Weak buying from India and China weighed, with traders awaiting March output and export data and USDA planting and stocks reports due March 31.
Soft import demand from top buyers India and China reduces near-term vegetable oil demand, pressuring palm prices. Upcoming production and export data will set the next directional move.
brecorder.comReutersMar 30, 2021Not 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.
Weak buying from India and China and a fourth drop in five sessions on 30 March show demand weakness and momentum that carried into the 31 March decline.
