Malaysian Palm Oil Futures Stabilize After Four-Day Slide

After four consecutive days of decline, Malaysian palm oil futures ended nearly flat on September 24. The December contract on Bursa Malaysia gained 3 ringgit, or 0.06%, to 4,771 ringgit ($1,168.22)/t.

This stabilization comes after the market was supported by firmer vegetable oil futures in Dalian. Soyoil contracts rose 0.39% and palm oil gained 0.68%.

However, fundamental pressure remains due to expectations of rising palm oil inventories in Malaysia and sluggish demand from India, the world's largest importer.

The Malaysian ringgit has weakened by 0.17% against the dollar, which slightly improves palm oil's export competitiveness.