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Palm oil falls

May 10, 2019


KUALA LUMPUR: Malaysian palm oil futures fell more than 1 per cent in late trade on Thursday, charting a second session of losses, as worries over US-China trade relations weighed on prices.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was last down 1.6 per cent at 2,005 ringgit ($482.90) a tonne at the close of trade, its sharpest daily fall in a week.

“The market is still carrying the worries of the trade war,” said a Kuala Lumpur-based trader. Global stocks and commodities markets were hit earlier this week after US president Donald Trump threatened to impose additional tariffs on Chinese imports.

Published in Dawn, May 10th, 2019