Palm tracks rival oils lower, weaker ringgit caps losses
Malaysian palm oil futures opened marginally lower on Monday, tracking weakness in rival edible oils, although a weaker ringgit capped the losses.
The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange slid 3 ringgit, or 0.08%, to 3,761 ringgit ($791.12) in morning trade.
The contract plunged 6.35% last week, marking its sharpest weekly decline in nine months.
Read also
Ukraine increases exports of canned dairy products, but EU shipments may face chal...
Ukraine’s pea crop rises, but export options narrow global peas S&D is tighte...
Demand from India is supporting global prices for palm and soybean oil
Poland may become the EU’s largest corn producer
Ukraine is preparing compensation for farmers for lost crops
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon