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Palm oil closed lower, influenced by concerns over increasing inventories in Malaysia and a decline in September exports. Weakness in soybean oil prices also contributed to the downturn.
December palm oil futures on Bursa Malaysia fell 35 ringgit (0.75%) to 4,629 ringgit/ton by midday, lowest in eight weeks, as Dalian soy and palm oil eased and expectations of higher September inventories weighed.