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Palm oil falls

July 11, 2019

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KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday evening weighed down by higher than forecast inventory levels in June according to a data release from the Malaysian Palm Oil Board (MPOB).

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange fell 0.3 per cent at 1,937 ringgit ($468.21) per tonne at the close of trade, a third straight session of declines.

“Stocks came in higher than polled,” said a Kuala Lumpur based trader, referring to the MPOB data. “I was expecting stocks to be lower.”

Published in Dawn, July 11th, 2019