Palm Oil Rises Amid Bargain Hunting Despite Bearish Sentiment

Palm oil prices rose in Asian trading amid bargain hunting, with the Bursa Malaysia Derivatives contract for November delivery up 37 ringgit at 4,851 ringgit a ton. However, AmInvestment Bank expects palm oil prices to face pressure due to rising Malaysian inventories and weaker export demand. Technical analysis suggests CPO futures remain bearish, with technical rebound facing resistance around 4,891 ringgit-4,920 ringgit a ton.