Malaysian palm oil price falls for 7th day on fresh Sino-US trade tension


The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.4% at 2,067 ringgit ($501.94) per tonne at the close of trade, its fifth consecutive session of gains. It earlier rose 0.7% to 2,073 ringgit, its strongest level since June 7. Palm is also up 4.8% for the week in a second week of gains.

KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in more than five months on Monday as U.S. President Donald Trump's threats to increase tariffs on Chinese imports risked prospects of a trade deal, sending commodities and stock markets lower.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed down 1.3 percent at 1,984 ringgit ($478.53) a tonne, posting a seventh consecutive session of losses.

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palm oil , markets , Bursa , futures , derivatives , oil , stocks , China , US , trade , Trump ,

   

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