Reported 2 days ago
Palm oil prices have dropped due to declining Malaysian exports and increased competition from soybean oil. Data shows that overseas shipments from Malaysia fell by 8.3% in early December, with exports to India decreasing by nearly 22%. The cold winter months typically reduce demand for palm oil, which is now trading at a premium to soybean oil. Analysts suggest that the weak export numbers and reduced competitiveness are affecting market sentiment, while some traders are closing positions before the holiday season.
Source: YAHOO