There has been a significant decrease in palm shortening pricse from the former $1,050 per MT by May 2021 to below $950 per MT by June 2021. The significant decrease happened due to several issues, such as: (1) worsening covid19 situations in exporting countries, such as Indonesia and Malaysia which limit the operational process; (2) drop in other vegetable oil prices, such as soybean oil from Latin America; (3) worsening COVID19 situations in major importing countries, such as India.
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