KUALA LUMPUR: Malaysian palm oil futures fell below the 2,000 ringgit level for the first time in three years on Wednesday, weighed down by losses in related edible oils on China’s Dalian Commodity Exchange and lower than forecast year-end inventory levels.
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 1.7 per cent at 1,973 ringgit ($470.38) a tonne, its seventh consecutive day of losses.
It earlier fell as much as 2.1pc to 1,965 ringgit, its weakest level since August 2015. Trading volumes totalled 55,797 lots of 25 tonnes each on Wednesday.
Published in Dawn, November 15th, 2018
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