Palm oil in Malaysia again under pressure

Palm oil futures on Bursa Malaysia are falling again today. This is the eighth decline in the last nine sessions. Analysts blame rising stocks for the recent decline in prices. The most heavily traded January 19 futures contract entered the lunch break with a fall of 0.93% at 2,030 ringgit / ton ($ 484.37). On Wednesday, the lowest price since August 15 was traded with 1,965 ringgit. Today, 21,566 lots per 25 tons were traded for all maturities until lunchtime.
Inventories increased 7.6% to 2.72 million tonnes at the end of October, while production increased 6% to 1.96 million tonnes, according to official data from the Malaysian Palm Oil Board on Monday.
Palm oil prices are unlikely to recover so rapidly as rising inventories of top producers Indonesia and Malaysia are expected, while demand among key buyers is unlikely to rise as palm oil is less likely to be used during the winter months.
Soybean oil on the CBoT fell by 0.03% this morning on the December maturity, while soybean oil on the Dalian Commodity Exchange in China rose 0.82% on the January maturity. Palm oil in China fell 0.14% on January maturity.

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