Palm Oil Futures Ease

Malaysian palm oil futures eased, slipping below MYR 4,720 per tonne as profit-taking set in after a two-week high. 79 million tonnes. Softer Chinese inflation data underscored weak demand in the world’s top edible oil importer, further weighing on sentiment. Still, downside was cushioned by a weaker ringgit and firmer soyoil prices on the Chicago exchange.

In top buyer India, festive-season demand expectations lent support after July imports hit a ten-month peak. 8% in the first ten days of August. —Iran peace deal, bolstering the broader commodity complex.