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Malaysian palm oil price declines for 2nd day on rising output


  • Palm Oil
  • Saturday, 11 Aug 2018

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,242 ringgit ($549.11) a tonne at the end of the trading day.  The market, however, is up 2.1 percent on-week, its strongest weekly gain in three.  Trading volumes stood at 41,812 lots of 25 tonnes each.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,242 ringgit ($549.11) a tonne at the end of the trading day. The market, however, is up 2.1 percent on-week, its strongest weekly gain in three. Trading volumes stood at 41,812 lots of 25 tonnes each.

KUALA LUMPUR: Malaysian palm oil futures were down on Friday evening after official data release showed a rise in production, though losses were capped as the gain in stockpiles was below market expectations.

Industry regulator the Malaysian Palm Oil Board (MPOB) reported a 1.3 percent monthly rise in July inventory levels to 2.21 million tonnes.

Palm Oil , Plantations , Markets

   

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