Malaysian palm oil outlook: Palm oil futures expected to open lower

JULY 10: Malaysian palm oil futures are likely to open lower on Monday morning, as external vegetable oil markets are lower and palm oil production is likely to increase.

On Friday, the main palm oil contract was quoted at 3,833 ringgit per ton, down 1.99% from Thursday.

The Malaysian Palm Oil Board (MPOB) will release supply and demand data today. Analysts expect Malaysia’s end-June palm oil inventories to stand at 1.86 million tonnes, up about 10.5 percent from the previous month and a four-month high as exports slow.