Palm oil extends decline as inventories rise, soyoil weakens
Malaysian palm oil futures dropped 2% for the second straight session on Wednesday, as inventories are expected to rise in the world’s second-biggest producer, while also tracking weaker soyoil amid ample supplies.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange fell 85 ringgit, or 2.15%, to 3,874 ringgit ($823.90) a metric ton in early trade, after losing 2% on Tuesday.
Read also
Wheat prices have risen to a two-week high following attacks on ports
Jordan cancels tender for 120 thsd tons of wheat
Sunflower seed stocks in Ukraine stood at nearly 1 million tonnes at the start of ...
Rabobank forecasts a rise in milk prices in Europe by the end of 2026
Imports of vegetable oils into India reached a 10-month high in July
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon