Palm oil opens falls on weak crude oil and rival vegetable oils
Malaysian palm oil futures retreated on Tuesday, after closing at its highest since mid-June 2022 in the previous session, weighed down by declines in crude oil and rival vegetable oils in Dalian and Chicago.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange lost 71 ringgit or 1.37%, to 5,125 ringgit ($1,158.45) a metric ton as of 0241 GMT, snapping a four-session rally.
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