Palm falls, tracking rival oils; set for third weekly drop
Malaysian palm oil futures fell on Friday, snapping two consecutive sessions of gain, weighed down by weak rival vegetable oils prices and soft export data.
The benchmark palm oil contract FCPOc3 for September delivery on the Bursa Malaysia Derivatives Exchange was down 24 ringgit, or 0.81%, to 3,927 ringgit ($833.23) a metric ton, as of 0244 GMT.
It lost 0.43% in overnight trade and has lost 0.5% so far this week. The contract is set to post a third consecutive weekly drop.
Read also
China restores soybean import licenses for US firms
Favourable short-term prospects for cereal markets – FAO
Pakistan to establish olive oil council to reduce reliance on edible oil imports
Corn harvest in France nears completion
Vegetable oils remain unaffected by the FAO Food Price Index decline
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon