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Palm oil hits 3-year low

November 02, 2018


KUALA LUMPUR: Malaysian palm oil futures hit their lowest in more than three years on Thursday, edging down at the end of the trading day for a third straight session of losses, tracking weakness in related edible oils.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed 0.3 per cent lower at 2,144 ringgit ($513.29) a tonne. It earlier fell as much as 0.8pc to 2,133 ringgit, its lowest level since Sept 2015.

Trading volumes stood at 43,143 lots of 25 tonnes each.

Published in Dawn, November 2nd, 2018