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News Admin
 
Date
 03/05/2021
News Provider
 Nur Aisha Abd.Wahab
News Source
 Business Recorder
Headline
 Palm oil down for second day

Business Recorder (01/05/2021) - JAKARTA: Malaysian palm oil futures fell for a second straight session on Friday, logging in a total loss of 4.8%, tracking cheaper rival oils and on worries of lower demand from India due to a surge in COVID-19 infections in the world’s top vegetable oil importer.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange fell 1.7% to 3,869 ringgit ($945.27) per tonne at the close. A Kuala Lumpur-based trader told Reuters that external market moves weighed on palm prices.


The Dalian Commodity Exchange’s soyaoil and palm oil contracts declined 0.98% and 1.57%, respectively, due to profit-taking ahead of the weekend, traders said.


Read more at https://www.brecorder.com/news/40089336/palm-oil-down-for-second-day



ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
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