1.8 C
New York
Saturday, January 28, 2023

Palm slides over 3%, hits 2-week low on weak rival oils, export outlook

KUALA LUMPUR: Malaysian palm oil futures dropped more than 3% on Tuesday, tracking weakness in rival edible oils and on fears of weak exports, with investors eyeing key data to gauge supply and demand levels.

Palm oil reverses early losses on tight supply concerns

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange slumped 156 ringgit, or 3.79%, to 3,962 ringgit ($906.01) a tonne during early trade, its lowest since Dec. 23.

Palm slides over 3%, hits 2-week low on weak rival oils, export outlook

Source: Brecorder

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

11,268FansLike
12,893FollowersFollow
742FollowersFollow
- Advertisement -

Latest Articles

Popular Articles