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Palm falls over 1% on weaker rival oils, higher stocks
KUALA LUMPUR: Malaysian palm oil futures fell more than 1% on Thursday, extending losses to a fourth straight session, as weaker rival edible oils and worries over rising October inventories pressured the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 76 ringgit, or 1.62%, to 4,609 ringgit ($1,131.32) a metric ton by the midday break. The market traded sharply lower following the drastic drop in rival oilseeds amid the absence of any announcement on the removal of Malaysia’s crude palm oil export tax, a Kuala Lumpur-based trader sai...
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