Market analysis: Palm oil slips amid lack of fresh fundamental drivers

On June 13, according to media reports, David Ng, a trader at Malaysian proprietary trading company Iceberg X, said that palm oil prices fell in early Asian trading due to the lack of new fundamental drivers.

He believes that expectations for a seasonal increase in production are weighing on market sentiment.

Nonetheless, he added that a weaker ringgit could lead to stronger exports due to attractive pricing, which could limit the downside.

Palm oil trader David Ng sees support for Malaysian palm oil futures at 3,100 ringgit and resistance at 3,500 ringgit.