Palm Oil Falls on Higher Output — Market Talk
Bullish strength: 30/100
- El Niño-induced dry weather could curb production from Q1.
- AmInvestment Bank identifies support at 4,460 ringgit per ton.
Bearish strength: 70/100
- Higher crude palm oil output is weighing on prices.
- Increased exports have not been sufficient to reduce inventories.
- Stockpiles could remain elevated until at least Q1.
- January CPO futures fell 84 ringgit to 4,467 ringgit per ton.
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