date:Aug 21, 2014
months ahead as trees enter their peak production period, adding to rising global supplies of edible oils.
On the technical front, palm oil is expected to decline further to the 323.6 percent level, or 2,016 ringgit per tonne, having fallen through support at 2,046 ringgit, according to Reuters market analyst Wang Tao. The most active January soybean oil contract on the Dalian Commodities Exchange slipped 0.5 percent while the US soyoil contract for December gave up 0.4 percent.