Palm oil prices fell as a result of the drop in oil prices.

During the Asian trading session, palm oil prices fell due to a decrease in oil prices, following an agreement between the United States and Iran to cease hostilities and reopen shipping lanes. A Malaysian investment bank stated in a report that technical analysis predicts a bearish trend for crude palm oil futures. The bank predicts that crude palm oil futures will find support at 4,445 ringgit per ton and face resistance at 4,530 ringgit per ton. The contract for delivery in August on the Malaysian Derivatives Exchange fell by 8 ringgit to 4,467 ringgit per ton.