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Palm oil at 3-year low

November 08, 2018


KUALA LUMPUR: Malaysian palm oil futures dropped to a three-year low on Wednesday in its fifth day of declines in six, on expectations of rising inventory levels and tracking weakness in related edible oils.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Deriva­tives Exchange was down 0.5 per cent at 2,111 ringgit ($506.96) a tonne at the close of trade after earlier falling to 2,105 ringgit, its lowest since September 2015. Trading volumes stood at 27,953 lots of 25 tonnes each at the end of the trading day.

Published in Dawn, November 8th, 2018