Malaysian palm oil futures closed lower on Wednesday

price volatility could persist this year given the uncertainty in the agricultural sector and the global economy. Palm oil prices are expected to fluctuate around RM4,050-RM4,150 per tonne in the near term, as the festive season is expected to support demand in February, Akwida added. The benchmark FCPO1 palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell 35 ringgit, or 0.85%, to 4,060 ringgit (US$1,037.83) per metric ton at the close of trading. The most-active Dalian soybean oil contract fell 0.05%, while the palm oil contract fell 0.69%. Soybean oil prices on the Chicago Mercantile Exchange fell 0.54%. Palm oil prices follow those of competing edible oils as it battles for share in the global vegetable oil market. Industry analyst Dorab Mistry forecasts Malaysian palm oil futures to trade in the range of 3,800 to 4,300 ringgit (US$968 to US$1,096) per metric ton until July 2026, barring any further weather changes, as supply is ample and demand ...