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
Dear visitor, the comments section is undergoing an overhaul and will return soon.