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Palm falls for fourth session on stockpile concerns, weak demand
KUALA LUMPUR: Malaysian palm oil futures fell for the fourth straight session on Wednesday, as expectations of rising inventories and weak demand weighed on the market. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 42 ringgit, or 0.87%, to 4,768 ringgit ($1,169.49) a metric ton at the close. 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 director at ...
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