Palm oil futures slide as weaker rival edible oils weigh on the market
Malaysian palm oil futures fell toward their steepest weekly drop since December 2024, Reuters reported, as rival edible oils weakened.
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what happened
Malaysian palm oil futures edged lower on Friday and were heading for their sharpest weekly decline since December 2024, according to Reuters. Weaker prices for competing edible oils put pressure on the market. The January contract on the Bursa Malaysia Derivatives Exchange slipped 0.32% to 4,363 ringgit per metric ton in early trade. It has lost 6.69% so far this week and is set for a second straight weekly loss. Crude oil provided some support: Brent rose 1.6% to $99.86 a barrel, and higher crude makes palm more attractive as biodiesel feedstock.
why it matters
Two forces are shaping the vegetable oil market right now. Soyoil is losing ground on Dalian and Chicago exchanges, and the ringgit weakened 0.32% against the dollar, which makes the commodity cheaper for buyers holding foreign currencies. On the other side, elevated oil prices offer support, since palm competes for a place in biodiesel production.
market impact
Palm oil: weaker rival oils and a softer ringgit press prices lower
- Palm oil pressure down — weaker prices for rival edible oils and a weaker ringgit
tags
instruments
sources
- Palm slips on weak rival oils, heads for steepest weekly fall in nearly two years — Reuters, 6 November 2026 at 03:24 UTC
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