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Malaysian palm oil price drops on high stock outlook, Indonesian levy change


  • Palm Oil
  • Thursday, 6 Dec 2018

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 1.2 percent to 1,995 ringgit ($480.43) a tonne by the close of trade, after earlier dropping as much as 1.5 percent to 1,990 ringgit.  Trading volumes stood at 27,937 lots of 25 tonnes each.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 1.2 percent to 1,995 ringgit ($480.43) a tonne by the close of trade, after earlier dropping as much as 1.5 percent to 1,990 ringgit. Trading volumes stood at 27,937 lots of 25 tonnes each.

KUALA LUMPUR: Malaysian palm oil futures fell more than 1 percent on Wednesday due to expectations of rising inventories in Malaysia and a change in Indonesia's export levy rules.

Indonesia relaxed rules on palm oil levies and derivative products effective immediately following a drop in prices, the country's finance ministry said on Wednesday.

Palm Oil , Markets , Plantations

   

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