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Wednesday, February 28, 2024

Palm oil extends losses for fifth day as rivals weigh

JAKARTA: Malaysian palm oil futures fell for a fifth consecutive session on Monday, after they tracked weaker rivals and as market participants awaited July export data, although the contract was set for a monthly gain.

Palm oil ends week lower on stronger ringgit

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange shed 2.07% to 3,923 ringgit per tonne in the early trade, its weakest levels in nearly two weeks.

So far this month, the contract has risen 3.43%.

Palm oil extends losses for fifth day as rivals weigh

Source: Brecorder

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