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Malaysian palm oil prices fall 2.5% to 3-week low

Updated Mar 13, 2023
May palm oil futures fell 2.5% on Friday to 3- weekly low of 4,098 ringgits/t or $907/t. Prices were not supported even by data on the increase in palm oil exports from Malaysia for the period March 1-10 by 45.3% compared to the same period in February and the reduction of stocks. At the end of February, palm oil stocks in Malaysia decreased by 6.6% compared to January to 2.12 million tons, which is the lowest figure in the last 6 months, the Palm Oil Council of Malaysia (PAC) reports. According to the Ministry of Internal Affairs and Communications, production of palm oil in Malaysia in February decreased by 9.35% compared to January to 1.25 million tons, and exports - by 1.99% to 1.11 million tons, which also supports the quotation. After the USDA report, May soybean oil futures on the Chicago Stock Exchange fell 4.2% to $1,247/t in three days, down 6.5% from the previous month and 9.5% from a year ago.
. The world balance of vegetable oils for FY 2022/23 has undergone the following ...
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