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Friday March 29, 2024

Palm oil declines

By REUTERS
August 16, 2017

KUALA LUMPUR: Malaysian palm oil futures slid on Tuesday, tracking a decline in exports and weaker performance among other related edible oils.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 percent at 2,644 ringgit ($616.03) at the midday break, poised for its second consecutive session of declines.

Traded volumes stood at 27,468 lots of 25 tonnes each at noon.

"Palm was down due to weaker exports as well as softening external prices," said a Kuala Lumpur-based futures trader, referring to the export data from a cargo surveyor, and fall in soyoil prices on the Chicago Board of Trade and China´s Dalian Commodity Exchange.