Palm oil/Vegoils: Market factors to watch Friday June 8

Malaysia has set a 5% tax on CPO export this month after a four-month suspension. The tax was calculated based on the palm oil reference price of RM2,409.66 per tonne for May. Any price above RM2,250 incurs a tax

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 8.

FUNDAMENTALS

* Malaysian palm oil futures extended losses for a fourth consecutive session on Thursday, hitting their lowest in one month on continued concerns about a weak demand outlook, while declines in Chicago soybeans also weighed on the market.