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Palm slips over 1% after no duty waiver but still log weekly gain
KUALA LUMPUR: Malaysian palm oil futures slipped more than 1% on Friday, after the government did not announce an expected export duty waiver in its Budget, though the contract still posted its first weekly gain in three weeks. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid 69 ringgit, or 1.48%, to 4,592 ringgit ($1,124.66) a metric ton at the close. The contract gained 1.26% this week. Palm oil futures reversed earlier gains as optimism over a possible Malaysian export duty waiver faded after the anticipated government Budget announcement ...
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