The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 34 ringgit, or 1%, to 3, 370 ringgit ($814.40) a tonne after Reuters reported India's plan to put import tax cuts on hold.
SINGAPORE: Malaysian palm oil futures reversed earlier gains to fall 1% on Thursday, as top buyer India put its import tax cut plans on hold, although a weaker ringgit limited further losses.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 34 ringgit, or 1%, to 3, 370 ringgit ($814.40) a tonne after Reuters reported India's plan to put import tax cuts on hold.
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