Palm Oil Forms Topping Pattern as Fundamentals Point to Easing Demand

Palm oil prices appear to be forming a topping pattern, and now the fundamentals are pointing to lower prices as demand begins to ease.  India’s decision to raise import taxes on crude olive oil was viewed as a bearish development by oilseed growers.  Recent export data from Malaysia shows that exports declined slightly more than 9.0% down from December but up year over year. …