Malaysian palm oil price drops on high inventory, subdued related oils


Malaysian palm oil futures ended higher on Wednesday, tracking buoyant soy oil and crude oil prices, and prompting short covering among traders.

KUALA LUMPUR: Malaysian palm oil futures charted their first decline in four days on Thursday evening, slipping from the previous session's one-week high, as ample supplies dented sentiment.

Related edible oils largely traded flat, with the March soybean oil contract on the Chicago Board of Trade falling 0.2 percent while May soybean oil on the Dalian Commodity Exchange edged up by 0.1 percent.

Save 30% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 9.73/month

Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 8.63/month

Billed as RM 103.60 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Wawasan Dengkil and Kester partner on renewable energy projects
Binastra's unit inks tripartite agreement involving RM305mil contract
Ringgit ends lower as firmer US dollar weighs on market
Infomina posts higher 2Q profit, declares 1.35 sen dividend
SkyGate acquires property investment firm for RM76mil
Berjaya Land proposes name change to Berjaya Property
SCIB shareholders approve rights issue, share capital reduction
SC Estate Builder to acquire 25% stake in non-operational hotel for RM18.79mil
FBM KLCI on a roll, notches fifth straight gain
China central bank to cut some sector-specific rates to boost economy

Others Also Read