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Malaysian palm oil price hits 3-month low on India demand concerns


  • Palm Oil
  • Thursday, 14 Mar 2019

Malaysian palm oil futures are set to trade between 2,350 ringgit and 2,450 ringgit a tonne in four to six months, leading industry analyst Thomas Mielke said.

Malaysian palm oil futures are set to trade between 2,350 ringgit and 2,450 ringgit a tonne in four to six months, leading industry analyst Thomas Mielke said.

SINGAPORE: Malaysian palm oil futures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production.

The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange finished down 1.3 percent at 2,089 ringgit a tonne. Earlier in the session, the market hit its weakest since mid-December at 2,070 ringgit a tonne.

Palm Oil , Markets , Plantations

   

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