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Malaysian palm oil prices seen dropping further on India import duty


  • Palm Oil
  • Wednesday, 22 Nov 2017

"We saw price reaction to India's move on Monday, Malaysian palm oil futures are likely to fall further by around 2-3 percent as the market adjusts to the duty increase," Mistry(filepic) told Reuters.

"We saw price reaction to India's move on Monday, Malaysian palm oil futures are likely to fall further by around 2-3 percent as the market adjusts to the duty increase," Mistry(filepic) told Reuters.

SINGAPORE: Malaysian palm oil futures will likely fall a further 2-3 percent after India, the world's biggest buyer, raised its import duties to the highest in a decade, top industry analyst Dorab Mistry said on Tuesday.

Malaysian palm oil futures slid for a third consecutive session on Tuesday to their weakest since mid-August at 2,612 ringgit ($630.31) a tonne, hit by worries that India's surprise move late last week to raise duties on edible oil imports would hit demand.

Palm Oil , Plantations

   

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