Palm oil futures fell to below RM 2,800 per ton, as edible oil refiners in India are switching to soyoil amid a rally in the price of palm oil. Still, prices remained close to levels not seen since early January, amid strong demand from India and China coupled with a decline in supply amid unfavourable weather in South America. Also, the Malaysian Palm Oil Association said Malaysia could lose almost 25% of its output due to a labour shortage, leaving further room for upside momentum.
