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Palm tumbles, posts steepest weekly fall in nearly two years
KUALA LUMPUR: Malaysian palm oil futures tumbled on Friday, posting their steepest weekly decline since mid-December 2024, as weaker soyoil prices pressured the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 119 ringgit, or 2.72%, to 4,258 ringgit ($1,049.54) a metric ton, the lowest closing price since March 5. The contract fell 9.04% this week and logged a second consecutive weekly loss. The market traded lower, pressured by soybean oil weakness, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn ...
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