Malaysian palm oil futures rose to their highest in two weeks on Monday in a fourth consecutive session of gains, tracking other edible oils and on forecasts of lower end-stocks in Indonesia.
KUALA LUMPUR: Malaysian palm oil futures reversed earlier gains to fall in the second half of trade on Wednesday, dragged down by expectations of rising production in the coming months.
The market had earlier been up supported by a weaker ringgit and overnight gains in crude oil. The ringgit, palm's currency of trade, fell to its lowest level in a month against the dollar on Wednesday morning. It was last 0.2 percent down at 4.2960 per dollar, its weakest levels since May 24.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
