Palm oil falls to 6-week low on bearish outlook for stocks


File pic: Godrej International Ltd.

KUALA LUMPUR: Malaysian palm oil futures fell to its lowest in six weeks on Tuesday, recording a fourth consecutive day of declines, due to a bearish outlook for stocks from a leading palm oil analyst.

Dorab Mistry had forecast on Monday evening that Malaysia's palm oil output will rise to 20 million tonnes in 2019, up from earlier estimates of 19-19.5 million tonnes.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Trading ideas: Scientex, CIMB, Samaiden, IAB, Zetrix AI, Dialog, Elridge, Mesiniaga, Willowglen, Berjaya, OCK, Sunway, Asteel, Top Glove
Dialog secures Thai oil and gas block concession
Vietnam’s LNG power plans face massive delays
Willowglen bags RM17.8mil MRT contract
Top Glove sees sustainable recovery ahead
Scientex to buy Johor land for RM580mil
SLGC targets more jobs fresh on the heels of its ACE Market listing
Thai price pressures rise on flood risk
Moving up the chip value chain good growth option
Dana Impak mobilises RM2.6bil in investments

Others Also Read