Malaysian palm oil price falls 10%, biggest fall in nearly 12 years

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange hit its lowest since Nov. 15,2019 at 2,575 ringgit ($633.46) per tonne when markets closed on Tuesday. This was the biggest drop since prices fell 10.3% on Oct. 24,2008.

JAKARTA: Malaysian palm oil futures fell as much as 10% on Tuesday, their most in over a decade, on mounting fears that a fast-spreading coronavirus in China will hit demand, amid a diplomatic spat with India.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange hit its lowest since Nov. 15,2019 at 2,575 ringgit ($633.46) per tonne when markets closed on Tuesday.