Malaysian Palm Oil Prices Drop Amid Decline in Soy Oil and Crude Oil Prices

Malaysian palm oil prices have recorded a decrease due to a decline in the prices of Chicago soy oil and crude oil. The escalation of the global trade war, driven by US President Donald Trump’s retaliatory tariffs, has heightened inflation risks and posed a threat to economic growth.

On the Bursa Malaysia Derivatives Exchange, the benchmark contract for June delivery of palm oil dropped by 92 ringgit, or 2.05%, settling at 4,397 ringgit ($993.67) per metric ton in early trading. This follows a 0.62% decrease in the price of the contract on Thursday.

The global economic uncertainty triggered by trade tensions is contributing to these fluctuations in commodity prices, further impacting the palm oil market.