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Malaysian palm oil futures slipped on August 29 on bearish price and production outlooks, especially for Indonesia. The November contract fell 0.7% to 2,217 ringgit a tonne.
Analysts said Indonesia's 2018 crude palm oil output could rise 4-6 million tonnes to 40-42 million tonnes.
Higher expected Indonesian output adds to global vegetable oil supply, pressuring palm oil prices lower. Softer palm prices weigh on competing vegoils and make palm cheaper relative to soy oil.
thestar.com.myThe Star OnlineAug 29, 2018Not 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.
