Palm oil drops for third day on concerns of higher Indian import taxes
Malaysian palm oil futures extended declines on Thursday to a third session, as the prospect of India, the world’s largest vegetable oil importer, raising import taxes weighed on market sentiment.
The benchmark palm oil contract FCPOc3 for November delivery on the Bursa Malaysia Derivatives Exchange fell 40 ringgit, or 1.02%, to 3,880 ringgit ($897.11) a metric ton as of 0241 GMT.
Read also
Soybean and rapeseed prices are rising despite an improvement in the global oilsee...
Lower maize stocks in the US outweighed the rise in global production
Kazakhstan is reducing its wheat acreage in favour of oilseed crops
The US Department of Agriculture (USDA) forecasts an increase in Ukraine’s grain h...
Ukraine agrees with Moldova on 50% discount for rail transit
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon