Palm yelled at a three -week general meeting when making a profit, output problem

Malaysian palm oil is ended more than 1% lower on Friday, yelling at a three -week general meeting, because traders ordered profits and concerns over the increase in output in the midst of slow demand burdening prices.

Benchmark Palm Oil Contract FCPO1! For October delivery in the Malaysia Exchange Exchange Slid 54 Ringgit, or 1.25%, to 4,276 ringgit ($ 1,013.75) per metric ton at closure. The contract dropped 0.9% this week.

The price of crude palm oil has fallen after a recent rally due to making profits, said Paramalingam Supramaniam, director at the Bestari protective broker. Signs of recovery in production in the midst of warm demand also contribute to the decline, he added.

Malaysian crude palm oil production is likely to increase to 19.5 million metric tons in 2025 from 19.3 million tons a year earlier, the Malaysian Palm Oil Council said.

The cargo surveyor estimates that the exports of Malaysian palm oil products for July 1-25 dropped between 9.2% and 15.2% from the previous month.

“The market is aware of the potential for increasing output in the third quarter and the current demand trend shows that unless there is a request, the final stock can rise above 2.1 million metric tons in July,” Paramalingam said.

Dalian’s most active Soyoil contract (DBYCV1) rose 0.39%, while CPO1 Palm Oil Contract! down 0.95%. Soyoil’s price at the Chicago ZL1 Trade Council! down 0.41%.

Palm oil tracks the movement of edible oil prices, because it competes to get the global vegetable oil market share.

Oil prices are stable, because the optimism of trade talks supports the prospects of the global economy and oil demand, balance news about the potential for more oil supplies from Venezuela.

Crude oil that is stronger in futures makes the palm of the hand a more attractive choice for biodiesel raw materials.

Meanwhile, Ringgit USDMYR, the Palm trade currency, weakened 0.12% of the dollar, making the commodities a little cheaper for buyers who hold foreign currencies.
Source: Reuters