Palm slips on weak rival oils, heads for steepest weekly fall in nearly two years

Malaysian palm oil futures fell 0.32% in early trading on Friday, with the January contract down 14 ringgit at 4,363 ringgit per metric ton, Business Recorder reported. The contract was headed for its largest weekly decline since December 2024, after losing 6.69% so far this week and moving towards a second consecutive weekly drop.

Weaker prices for competing edible oils weighed on the market, while firmer crude oil prices limited the decline. The report describes pressure from rival oils and support from crude as opposing forces in Friday’s trading, without indicating that either had reversed the broader weekly fall. For Pakistani investors, the movement is relevant as an international signal for the edible-oils market, although the report does not identify any local company or quantify an impact on Pakistan.