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Palm logs second straight weekly loss, hits lowest closing in 12-weeks
JAKARTA: Malaysian palm oil futures booked a second straight weekly decline on Friday, with prices falling for a sixth straight session to their lowest closing in 12 weeks, on weak export data and expectations of high inventory. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 21 ringgit, or 0.46%, to 4,533 ringgit a metric ton, its lowest closing price since July 10. The contract fell 2.98% for the week. “Bursa Malaysia’s crude palm oil futures is under pressure from poor export, improved production and increasing end-stock to over 3 millio...
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