MARKET DEVELOPMENT
Palm oil falls
Palm oil falls
02.10.2018 (DAWN.com) - KUALA LUMPUR: Palm oil futures dropped on Monday as caution over rising stockpiles outweighed positive September export numbers.
The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 per cent at 2,157 ringgit ($521.27) a tonne. Trading volumes stood at 66,234 lots of 25 tonnes each.
“The market is down on rising palm oil stockpiles, but the weaker ringgit and crude oil prices provide some underlying support,” one trader said.