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Malaysian palm oil futures for March delivery fell 48 ringgit (1.11%) to 4,290 ringgit a metric ton in early trade on Tuesday, extending losses for a second session. The decline followed weaker rival edible oils, with Dalian soyoil down 0.11% and CBOT soyoil down 0.6%.
Crude oil also slipped on a technical correction.
Palm oil tends to track rival vegetable oils, so softer soyoil and crude prices weigh on palm and reduce its appeal as biodiesel feedstock. The move reflects routine price tracking rather than a new supply or demand shock.
brecorder.comReutersJan 7, 2025Not 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.
