Dalian palm oil futures fell from a September high of 10,500 CNY per ton, closing at 9,271 CNY on October 30. Bursa Malaysia crude palm oil traded between 4,600 and 4,800 ringgit per ton.
MPOB data showed Malaysia's September output rose 16.5% month-on-month to 2.117 million tons, exports fell 12.1%, and month-end stocks reached 3.51 million tons, the sixth straight monthly build.
Rising Malaysian output and record inventories point to ample palm oil supply, which weighs on prices and gives substitute vegetable oils such as soybean oil less support. Cheaper palm oil can lower feed-fat costs for buyers.
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