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Palm hits over 5-week low on rising stock expectations, subdued demand
KUALA LUMPUR: Malaysian palm oil futures reversed gains to hit a more than 5-week low on Tuesday, pressured by expectations of rising stock and subdued demand as traders awaited the upcoming meeting between the presidents of the US and China. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 47 ringgit, or 0.97%, to 4,810 ringgit ($1,180.66) a metric ton, the lowest closing since August 14. US President Donald Trump and Chinese President Xi Jinping’s meeting this week is providing support to the broader agricultural complex, particularly soyo...
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