Palm oil futures plummet to 8-month low amid vegetable oils sell-off

The benchmark palm oil futures contract on Malaysia’s commodity exchange fell over 122 points or 3% during afternoon trade May 31, reaching its lowest level since October 2022, with analysts attributing the drop to sluggish demand, weakness in related vegetable oil markets and falling crude oil prices. The most actively traded August crude palm oil contract was down 3% to…