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Palm falls for second session on stockpile fears
KUALA LUMPUR: Malaysian palm oil futures dropped for a second session on Wednesday, weighed down by concerns over rising stockpiles, though firmer crude oil prices limited losses. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 36 ringgit, or 0.79%, to 4,524 ringgit ($1,107.20) a metric ton at close. The market remained under pressure, particularly in nearby contracts amid high palm oil inventories, a Kuala Lumpur-based trader said. “Prices failed to return to positive territory despite firmer crude oil prices,” the trader added. Malaysia’s...
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