RBD palm oil cash prices in the U.S. Gulf moved lower again this week, in step with continued losses in the wider edible oil futures markets. Since August 1, Gulf palm oil spot values have declined more than seven percent and moved below 45 cents per pound today to 44.75 cents per pound. Increased buying interest from major destination markets surfaced earlier in the summer, which lifted values at that point. But a subsequent drop in demand from two of the world’s largest buyers, China and India, caused prices to quickly erode.
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07.26.2024
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