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Palm oil slides

March 14, 2019


SINGAPORE: Malaysian palm oil futures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production.

The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange finished down 1.3 per cent at 2,089 ringgit a tonne. Earlier in the session, the market hit its weakest since mid-December at 2,070 ringgit a tonne.

In related oils, Chicago soybean oil was down 0.4pc and the most-active soyoil contract on the Dalian Commodity Exchange fell 1.3pc.

Published in Dawn, March 14th, 2019