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Palm slips for fourth session on stockpile fears, weak demand
KUALA LUMPUR: Malaysian palm oil futures slipped more than 1% on Wednesday, down for the fourth straight session, on expectations of rising inventories and weak demand. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 71 ringgit, or 1.48%, to 4,739 ringgit ($1,163.80) a metric ton by the midday break. The market is well aware that end-stocks will likely rise to 3 million metric tons, or slightly higher by September-end, driven by a double-digit increase in production, particularly in the state of Sabah, said Paramalingam Supramaniam, a direc...
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