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Palm oil low in Malaysia

Published : Wednesday, 29 August, 2018 at 12:00 AM  Count : 230

KUALA LUMPUR, Aug 28: Malaysian palm oil futures slipped to a more than one-week low on Monday, tracking weakness in related edible oils on China's Dalian Commodity Exchange and as the ringgit strengthened.
The ringgit, palm oil's currency of trade, gained 0.2 per cent against the dollar to 4.0980, making the vegetable oil more expensive for holders of foreign currencies.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was down 0.3pc at 2,213 ringgit ($539.10) a tonne at the midday break, heading for a third session of falls in four. Earlier in the session, it fell to its weakest since Aug. 16 at 2,205 ringgit. Trading volumes stood at 8,936 lots of 25 tonnes each at noon.    -Reuters

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