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Malaysian palm oil futures for March delivery fell 26 ringgit (0.6%) to 4,342 ringgit a metric ton on Bursa Malaysia. Weak demand from India, which cut December palm imports to a nine-month low after buying cheaper soyoil, weighed on prices.
Malaysian palm product exports for December also fell between 2.5% and 7.8%.
Lower Indian purchases and softer Malaysian export flows reduce demand for palm oil, pressuring palm prices. Buyers of palm-based feed inputs may find near-term supply more available at lower prices.
brecorder.comReutersJan 6, 2025After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
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 Indian demand (nine-month-low imports as buyers switched to cheaper soyoil) and lower exports weighed on prices on Jan 6 (trade flow).
