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Palm oil prices down

March 13, 2019

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JAKARTA: Malaysian palm oil futures dipped again on Tuesday, losing earlier gains made on rising crude oil prices.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange ended down 0.14 per cent at 2,116 ringgit ($518.37) per tonne after peaking at 2,140 ringgit.

Prices of the edible oil have fallen 2pc in the past week on weak demand and high stockpiles in the world’s second-largest producer. Trading volumes stood at 46,573 lots of 25 tonnes each.

Published in Dawn, March 13th, 2019