Archive · Business Recorder
Palm hits one-month low as stockpile concerns weigh
KUALA LUMPUR: Malaysian palm oil futures dropped to a one-month low on Tuesday, as mounting concerns over growing stockpiles weighed on the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 97 ringgit, or 2.09%, to 4,552 ringgit ($1,117.88) a metric ton, its lowest close since October 7. Palm oil futures traded cautiously and lower as concerns over elevated inventories continued to limit gains, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. Malaysia’s palm oil inventories are set to hit a new ...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →