Malaysian palm oil futures rose for a third consecutive session on Wednesday, but the rally may lose steam due to concerns about rising stockpiles, traders said.
KUALA LUMPUR: Malaysian palm oil futures fell on Thursday, snapping two days of gains, as it tracked weaker crude oil prices and a drop in U.S. soyoil in Chicago.
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 1 percent at 2,239 ringgit ($538.87) a tonne, its sharpest decline in a week.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
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!
