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Asian Biofuels Update: Malaysian Palm Oil Futures Slip

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Malaysian palm oil futures retreated on Friday as rival soybean oil weakened.

The Bursa Malaysia Derivatives' August crude palm oil contract was trading 0.6% lower at 4,525 Malaysian ringgit ($1,107.17) per metric ton. The September contract fell 1% to 4,594 ringgit/mt.

Indonesia is seeking to avoid US tariffs on its palm oil exports after the US imposed a 10% duty on nations it says make use of forced labor. The tariff currently applies to both Indonesia and Malaysia, major producers of palm oil.

The developing El Nino weather trend is expected to have a negative impact on long-term yields.

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Asian Biofuels Update: Malaysian Palm Oil Futures Slip | FINWIRES