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Palm closes near 8-month low on inventory worries, weaker rival oils
KUALA LUMPUR: Malaysian palm oil futures slipped more than 2% on Thursday to close near an eight-month low as concerns over potentially larger-than-expected stocks and output, alongside weaker rival vegetable oils, pressured the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 121 ringgit, or 2.69%, to 4,375 ringgit ($1,081.31) a metric ton, the lowest closing price since March 6. The market continued its bearish stint amid fears of a larger inventory increase as production is expected to rise more than the recent estimates, said Anil...
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