Malaysian palm oil futures experienced a slight decline on Friday, signaling the market’s first weekly loss in five weeks as it consolidates following a recent bullish phase. Factors contributing to the dip include lower prices of edible and crude oils, with the benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange edging down. The market’s current consolidation phase follows a period of price upticks driven by supply constraints in Malaysia and Indonesia. While expectations of increased palm production loom, the anticipation of higher Indonesian taxes and levies in April is expected to provide support to prices.
Malaysian Palm Oil Sees Minor Dip Amid Consolidation, Headed for Weekly Loss