Malaysian palm oil price has dropped nearly 2% to a one-month low. It falls to it's lowest in a month, weighed down by losses in soya oil on the U.S. Chicago Board of Trade (CBOT) and weaker export demand.
As per the Malaysian palm oil export data which showed weaker demand in the first ten days of June, Palm tracked weakness in the U.S. soybean market, as well as lower exports.
Industry regulator the Malaysian Palm Oil Board is scheduled to release inventory, production and export data for May on June 12.
We should also know that Palm oil prices are affected by movements in related edible oils, with which it competes for global market share.
