Palm oil extends slide to fourth session on weaker soyoil and crude prices
Malaysian palm oil futures fell over 1% and dropped for a fourth straight session under pressure from softer soyoil and crude, Reuters reports.
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what happened
Malaysian palm oil futures declined more than 1% on Thursday, marking a fourth consecutive session of losses, according to Reuters. The benchmark January-delivery contract on Bursa Malaysia Derivatives gave up 1.22% early in the session, bringing it down to 4,628 ringgit ($1,135.98) per metric ton.
Weaker rival vegetable oils and crude futures are weighing on the market. Oil slipped as hopes for peace talks eased some worry about supply disruptions in the Middle East. Cheaper crude makes palm less appealing as a biodiesel feedstock, and soyoil in Dalian and Chicago also lost ground.
The ringgit, the currency used to trade palm, gained 0.29% against the dollar, which makes the commodity pricier for buyers holding other currencies.
why it matters
Palm oil competes with other vegetable oils for share of the global market, so its prices usually track soyoil and other edible oils. A firmer ringgit adds a further drag by lifting costs for foreign buyers. The move is confined to a niche commodity, but it shows how swings in crude reach farm commodities through the biodiesel channel.
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- Palm drops over 1% for fourth session on weaker rival oils, crude — Reuters, 29 October 2026 at 03:12 UTC
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