JAKARTA: Malaysian palm oil futures are down more than 8% as they hit their lowest in 15 months, after a leading industry analyst warned that prices would plunge by more than 30% by the end of this year due to ample supply and weaker demand.
The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange had dropped 6.77% to RM3,483 (US$757.83) a tonne by the midday break yesterday.
Already a subscriber? Log in
Get 20% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
