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Palm falls nearly 2% on weaker Dalian oils, high stockpiles
KUALA LUMPUR: Malaysian palm oil futures fell nearly 2% on Tuesday, extending losses for a second consecutive session, as weaker Dalian oils and high stockpiles pressured the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 87 ringgit, or 1.82%, to 4,702 ringgit ($1,151.04) a metric ton at the close. The market is tracking the weakness in Dalian, said a Kuala Lumpur-based trader. Meanwhile, LSEG Agriculture Research in its October note said that palm oil prices strengthened in October, supported by continued concerns over El Nino-rela...
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