Palm Oil Prices Fall on Softer Sentiment

Dow Jones
1 hour ago

1100 GMT - Palm oil fell during the Asian trading session. Sentiment was likely weighed by overnight weakness in rival soy oil, profit taking following a recent rally and concerns over softer August export demand, Kenanga Futures write in a note. AmSpec data showed palm oil exports fell 11% on month for the Aug. 1-25 period. However, expectations of lower palm oil production and ongoing supply risks could help cushion further downside, it adds. The Bursa Malaysia Derivatives contract for November delivery fell 93 ringgit to 4,853 ringgit a ton.

 

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