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Malaysian palm oil price drops for 7th session on demand woes, rising supplies


  • Palm Oil
  • Friday, 15 Mar 2019

The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.4 percent at 2,062 ringgit ($504.28) a tonne.  Earlier in the session, the contract dropped to its weakest since mid-December at 2,051 ringgit a tonne.

The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.4 percent at 2,062 ringgit ($504.28) a tonne. Earlier in the session, the contract dropped to its weakest since mid-December at 2,051 ringgit a tonne.

SINGAPORE: Malaysian palm oil futures fell for a seventh consecutive session on Thursday to a three-month low, as concerns over slowing demand and rising production dragged down the market.

There was further pressure on prices as Europeans reduce consumption amid environmental concerns associated with the tropical product.

Palm Oil , Markets , Plantations

   

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