{
  "id": 11427611,
  "title": "Palm logs second straight weekly loss, hits lowest closing in 12-weeks",
  "url": "https://urgent.news/2026/10/02/palm-logs-second-straight-weekly-loss-hits-lowest-closing-in-12-weeks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-02T11:31:20.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442353/palm-logs-second-straight-weekly-loss-hits-lowest-closing-in-12-weeks"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures experienced a second consecutive weekly decline on Friday, hitting their lowest closing price in 12 weeks due to weak export data and high inventory concerns. The December delivery contract on the Bursa Malaysia Derivatives Exchange dropped 21 ringgit, or 0.46%, to 4,533 ringgit per metric ton, its lowest closing since July 10. The contract's weekly decline stood at 2.98%. A trader attributed the pressure on the benchmark palm oil contract to poor export performance, higher production, and increasing end-stock levels, which currently exceed 3 million tons.\n\nExport figures from September showed a significant drop in Malaysian palm oil product shipments, ranging from 17.1% to 28.8% compared to August, according to Intertek Testing Services and AmSpec Agri Malaysia. Soymeal prices on the Chicago Board of Trade experienced minimal change, up just 0.01%. The Dalian Commodity Exchange was closed for a public holiday.\n\nPalm oil prices mirror those of other edible oils, as they vie for a share of the global vegetable oils market. Analyst Thomas Mielke predicts a potential rise in global vegetable oil prices in the near future and throughout 2027 due to constrained supply from the disrupted Black Sea sunflower oil shipments combined with declining South American soyoil exports. Industry analyst Dorab Mistry expects Malaysian palm oil prices to stay within the range of 4,500 to 5,000 ringgit per ton through December, despite the possibility of lower production next year due to El Niño conditions.",
  "summary": "JAKARTA: Malaysian palm oil futures booked a second straight weekly decline on Friday, with prices falling for a sixth straight session to their lowest closing in 12 weeks, on weak export data and expectations of high inventory. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 21 ringgit, or 0.46%, to 4,533 ringgit a metric ton, its lowest…",
  "key_points": [
    "Malaysian palm oil futures decline for second week straight",
    "December contract hits lowest closing in 12 weeks at 4,533 ringgit/ton",
    "Weak export data and high inventory blamed for price drop"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}