KUALA LUMPUR: Malaysian palm oil futures were poised to snap their winning streak on Wednesday, slipping from a five-month high hit in the previous session, as markets reacted to the U.S. decision to impose duties on biodiesel imports from Indonesia and Argentina.
The U.S. Commerce Department on Tuesday made a preliminary finding that imports of biodiesel from Indonesia and Argentina were subsidized, a U.S. industry lobby group had said.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange fell 0.7 percent at 2,717 ringgit ($634.66) at the midday break. Traded volumes stood at 35,584 lots of 25 tonnes each at noon.
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