Palm oil futures drop 1pc on weak rival edible oils
29/01/2024 (New Straits Times), Singapore - Malaysian palm oil futures dropped on Monday, as traders gauged weakness in rival edible oils, although higher crude prices limited losses.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell RM40t, or 1 per cent, to RM3,977 (US$841.34) a metric ton in morning trade.
The contract logged a nearly 2 per cent weekly gain last week, the third straight week-on-week increase. - Reuters