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Palm falls to near three-week low on weaker rival oils, higher stocks
KUALA LUMPUR: Malaysian palm oil futures slid more than 1% on Thursday to a nearly three-week low, extending losses for a fourth straight session, as weaker rival edible oils and worries over rising October inventories weighed. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 69 ringgit, or 1.47%, to 4,616 ringgit ($1,131.32) a metric ton, the lowest closing price since October 9. 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...
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