Palm oil posted its biggest weekly fall since April last year on concerns over falling exports from the world’s second-biggest grower Malaysia and weaker soybean oil. Futures retreated 1.6% to 4,434 ringgit a ton in Kuala Lumpur, taking this week’s drop to 9.6%. The tropical oil slipped for a sixth day, the longest run of losses since April 2024. Soybean oil, palm’s closest substitute in food and fuel, fell as much as 1.2% in Chicago. “It looks like panic selling due to falling exports gripped the market,” said a trader. Losses in equities and a drop in crude oil prices are also putting pressure on the market, he said. Palm oil shipments from Malaysia declined more than 8% in the first 20 days of December from a month earlier, according to cargo surveyor Intertek Testing Services.(Source:Bloomberg).
