Malaysian palm oil price falls for fifth straight day on rising output woes


Malaysian palm oil futures jumped by more than 1 percent to its highest in nearly a month on Tuesday, extending gains into a third session on strength in related edible oils and earlier weakness in the ringgit.

KUALA LUMPUR: Malaysian palm oil futures charted a fifth consecutive day of losses on Friday evening, ending the day near three-year lows, weighed down by concerns that output would rise.

It was up earlier in the day after Malaysia, the world's second-largest exporter of palm oil, announced it would maintain its export tax on crude palm oil for October at zero percent.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

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

Axiata, Sinar Mas move closer to US$3.5bil telco merger
Agricore gets Bursa nod to list on ACE Market
South Korea Q1 GDP growth smashes estimates, but outlook's uncertain
Ringgit soft as US$ remains elevated
Product innovation drives sales of local plastic packaging
Bursa's rally continues ahead of economic releases
Trading ideas: MyEG, Axis REIT, Mah Sing, Capital A, Hibiscus, Chin Hin, Carlsberg, I-Bhd
Kering says profit likely to tumble
Businesses concerned about rising forex woes
Texas Instruments gives solid forecast in sign of comeback

Others Also Read