{
  "id": 17047717,
  "title": "Palm falls to near three-week low on weaker rival oils, higher stocks",
  "url": "https://urgent.news/2026/10/29/palm-falls-to-near-three-week-low-on-weaker-rival-oils-higher-stocks",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T10:33:02.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40446502/palm-falls-to-near-three-week-low-on-weaker-rival-oils-higher-stocks"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures plunged to a near three-week low on Thursday, falling more than 1% amid weaker rival edible oils and concerns over rising October inventories. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange dropped 69 ringgit, or 1.47%, to 4,616 ringgit ($1,131.32) per metric ton, its lowest closing price since October 9. The market's sharp decline followed the absence of any news on the removal of Malaysia's crude palm oil export tax, according to a Kuala Lumpur-based trader. Market participants remained cautious due to potential higher palm oil end-stocks in October, suggested by rising production in the near term. Dalian's top-traded soyoil contract fell 0.71%, while its palm oil contract decreased 2.38%. Soyoil prices on the Chicago Board of Trade slipped 1.46%. As palm oil competes for global vegetable oil market share, oil prices fell, eroding gains made the previous day, as peace talks provided temporary relief from renewed worries about Middle East supply disruptions due to escalating regional conflict. Additionally, the weakening ringgit, palm oil's currency of trade, made the commodity pricier for buyers holding foreign currencies.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures slid more than 1% on Thursday to a nearly three-week low, extending losses for a fourth straight session, as weaker rival edible oils and worries over rising October inventories weighed. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 69 ringgit, or 1.47%, to 4,616 ringgit ($1,131.32) a metric ton, the…",
  "key_points": [],
  "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."
}