"Palm oil demand has been constantly under pressure due to a broader selloff seen in the soft oils," he said.
Malaysia's palm oil exports during April fell 18% from the month before, cargo surveyor Intertek Testing Services said. Another cargo surveyor, AmSpec Agri Malaysia, said exports declined 21%. Indonesia said last week it will lower its mandatory domestic sales threshold for palm oil producers to 300,000 tonnes a month starting in May, although traders said uncertainties over the policy remains. Soy oil prices on the Chicago Board of Trade rose 0.8%. The Dalian exchange was closed for a public holiday.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market. ($1 = 4.4620 ringgit) (Reporting by Mei Mei Chu; Editing by Sherry Jacob-Phillips and shinjini Ganguli)
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