Palm Oil Prices Slump Below Support as High Inventories Weigh on Prices

Palm oil prices edged higher on Thursday in simpathy with crude oil which surged as Saudi Arabia initiated planned strikes against Yemen.  Prices will likely be capped as Indonesian palm oil stocks are likely to hit record highs.

Palm oil inventories in Indonesia, the top producer of the vegetable oil, will jump by 63% over 2015-16, to 3.574 million tonnes, according to the US…