Asian palm oil prices rallied on Wednesday June 26 for the first time in three days. Rising US oil inventories could potentially affect the broader energy sector, but the sell-off may have run its course, a source told Fastmarkets.

A second source believed the downside for crude palm oil futures would be limited in coming weeks due to the onset of the dry season. Reduced production is expected to buoy prices in the near term.

Three cargo surveyors in the export market each reported month-on-month shipment declines of 16.12%, 16.94% and 4.31%.

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