Palm declines, logs third straight weekly fall

Malaysian palm oil futures fell on Friday, posting a third straight weekly decline, as traders booked profits following bullish analyst outlook for next year, while no signs of progress in talks over agricultural exports between the U.S. and China also dampened sentiment. The benchmark palm oil contract FCPO1! for December delivery on the Bursa Malaysia Derivatives Exchange eased 43 ringgit, or 0.97%, to 4,396 ringgit ($1,041.95) a metric ton at the close. The contract fell 0.66% this week. The palm oil market slipped in the afternoon session as participants interpreted analysts’ bullish outlook for next year as a bearish signal for current prices, a Kuala Lumpur-based trader said. India’s edible oil imports in 2025/26 are projected to rise 4.6% to a record 17.1 million metric tons, driven by higher palm oil purchases by the world’s largest vegetable oil buyer, industry analyst Dorab Mistry said at the Globoil Conference in India. Meanwhile, leading industry analyst Thomas Mielke ...