12.04.2019 (DAWN.com) - KUALA LUMPUR: Malaysian palm oil futures edged down to their lowest in more than a week on Thursday evening, weighed down by expectations of rising production. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 0.7 per cent at 2,154 ringgit ($523.83) a tonne at the close of trade in its second session of declines.
The market earlier fell by up to 1pc to 2,148 ringgit, its lowest level since April 2. The market dropped as much as 2pc in the previous session as official data from the Malaysian Palm Oil Board (MPOB) showed March end-stocks and production at higher levels than expected. The MPOB data showed end-stocks declined 4.6pc to 2.92 million tonnes from February, while output rose 8.3pc to 1.67m tonnes on the month.
Published in Dawn, April 12th, 2019