Palm oil falls for second session as firmer ringgit weighs
Malaysian palm oil futures dropped for a second consecutive session on Thursday as a stronger ringgit and weakness in rival vegetable oils pressured the contract.
The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange lost 32 ringgit, or 0.82%, to 3,876 ringgit ($852.24) a metric ton by 0235 GMT.
The contract fell 0.18% in July, the second consecutive monthly 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