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Palm slides on lower Indonesian export costs, weak crude, rising stockpiles
KUALA LUMPUR: Malaysian palm oil futures fell on Monday, as lower Indonesian export costs intensified competitive pressure, while weaker crude oil prices and concerns over rising inventories added further pressure. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 31 ringgit, or 0.66%, to 4,650 ringgit ($1,144.19) a metric ton at the close. The market began its first trading session of November on a weaker note after Indonesia cut its November crude palm oil reference price and export levy, prompting Malaysian crude palm oil prices to adjust l...
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