Chinese palm oil demand seen falling significantly, weighing on palm oil

In China, demand for palm oil imports is seen falling significantly due to the release of domestic rapeseed oil stores and increasing soy oil production from crushed imported beans. Imports could fall by half, pressuring palm oil prices from Malaysia and Indonesia. Three palm oil cargoes for July and August delivery were already canceled due to falling prices and imports are expected to remain weak until the holiday season in mid-October when demand will resume.