Malaysian palm oil price slumps to 3-week low on firm ringgit, weak demand


Malaysian palm oil futures made their sharpest daily gains in a month on Thursday, tracking rises in soyoil on the Chicago Board of Trade and supported by a weaker ringgit, traders said

KUALA LUMPUR: Malaysian palm oil futures slumped to a three-week low on Wednesday evening as a firmer ringgit and weak demand weighed on the market.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was down 1.2 percent at 2,487 ringgit ($629.30) a tonne at the close of trade, a second straight session of decline. 

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


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!
   

Next In Business News

Eupe acquires land in KL for RM69mil
Property transactions in 1Q24 up 34.3% to RM56.53bil
BAuto’s future earnings expected to remain solid
Hume Cement net profit jumps to RM61.06mil in 3Q
Growth of 4% forecast for first quarter of 2024
Axiata, Sinar Mas sign MoU to explore merger
VSTECS to focus on data centres
Ewein to buy rackform firm for RM32mil
Glove stocks surge in active trading
EcoWorld Malaysia growth trajectory intact

Others Also Read