PETALING JAYA: The benchmark crude palm oil (CPO) futures to be delivered in October, slumped 2.5% to a one-year low to close at RM2,177 per tonne yesterday, reflecting the bearish outlook brought about by the rising domestic palm oil inventory and increasing production situation.
This is on the back of palm oil stock for July increasing 1.47% to 1.68 million tonnes from a month earlier, while CPO production rose 6.11% to 1.66 million tonnes.
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