KUALA LUMPUR: Malaysian palm oil futures ended lower on Wednesday after three consecutive sessions of strong gains, as a drop in commodity markets amid concerns over China’s growth weighed on prices.
The benchmark palm oil contract for November on the Bursa Malaysia Derivatives exchange closed 1.09 per cent lower at 1,991 ringgit ($472.25) a tonne, after trading in a range of 1,981 to 2,003 ringgit.
Traded volume stood at 53,529 lots of 25 tonnes each, above the usual daily average of 35,000 lots.
The Malaysian ringgit, which has lost around 20pc so far this year, fell about 1pc at 4.21 per dollar on Wednesday.
Published in Dawn, September 3rd, 2015
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