Palm Oil Slides, Driven Lower by Slumping Petroleum Prices

Palm oil prices are consolidating, as robust supplies from the west, appear to have been able to satiate the strong demand from the east. There are concerns that Asian demand will moderate following the month-long festival of Ramadan. Vegetable oil prices that are used as inputs into the diesel process have been facing headwinds due to declining crude oil prices. Petroleum has dropped more than 20% and…