Palm Oil Prices Plummet Amid High Inventories and Weak Demand

Palm oil futures fell for a fourth consecutive session on Wednesday in Malaysia, continuing their downward trend.

The December contract on Bursa Malaysia dropped by 0.87% to 4,768 ringgit/t (approximately $1,169/t), putting pressure on the market due to high inventories and weak demand.

Market participants estimate that stocks could reach or slightly exceed 3 million tons by the end of September, driven by double-digit growth in production, particularly in Sabah.

Cargo surveyors reported a decline in Malaysian palm oil exports for the first 20 days of September, falling by 12.8-24.7% from the previous month.