Malaysian palm falls on bearish price outlook

Fry(filepic) told the conference that palm prices were likely to fall nearly 17 percent from current levels, to below 2,400 ringgit per tonne, by November or December as overseas appetite for the commodity falters over the winter.

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday from 6-1/2 month highs, snapping three sessions of gains due to bearish price forecasts from a key industry analyst.

    The benchmark palm oil contract for November delivery  on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,867 ringgit ($681.97). Earlier in the session, it hit 2,896 ringgit, its highest since March 6.