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The Southern Peninsular Palm Oil Millers Association estimated Malaysian palm oil production for June 1-10 rose 31.7% from the previous month. Malaysian palm oil futures fell about 0.9% on June 12, on track to end a four-week winning streak.
Weaker crude and rival oils also weighed on prices.
Rising palm output adds to supply and pressures prices, especially with demand still uncertain. Lower crude prices also reduce the biodiesel appeal of palm oil.
brecorder.comReutersJun 12, 2020Not 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.
