KUALA LUMPUR: Palm oil futures slid for a fourth consecutive session on Tuesday, hitting their lowest in 15 weeks as expectations of higher production and ample supplies of rival soybean oil weighed on the market.
Benchmark palm oil futures for May delivery on the Bursa Malaysia Derivatives Exchange closed down 1.7 per cent to 2,782 ringgit ($624.4) a tonne by the mid-day break.
Earlier in the session, they hit a low 2,777 ringgit, the weakest since Nov 8. The traded volume stood at 73,468 lots of 25 tonnes each.
Published in Dawn, February 22nd, 2017
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