Print Edition - 2018-06-20  |  Money Digest

Palm oil slumps to near two-year low

KUALA LUMPUR

Jun 20, 2018-

Malaysian palm oil futures slumped more than 2 percent on Tuesday to their lowest in nearly two years, tracking weakness in related edible oils. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 1.8 percent at 2,265 ringgit ($566.82) per tonne at noon, after declining as much as 2.3 percent to its lowest since July 26, 2016 at 2,253 ringgit earlier in the session. Trading volumes stood at 38,727 lots of 25 tonnes each at the midday break. “Palm market is down today tracking externals,” said a Kuala Lumpur-based futures trader, referring to soyoil on the Chicago Board of Trade and China’s Dalian Commodity Exchange. (REUTERS)

Published: 20-06-2018 08:23

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