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Palm slips on high stockpiles
KUALA LUMPUR: Malaysian palm oil futures ticked down on Tuesday, after edging higher in the previous session, as high stockpiles continued to weigh on the market. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 39 ringgit, or 0.84%, to 4,598 ringgit ($1,125.86) a metric ton by the midday break. The bearish September stocks are already reflected in the market as it had already weakened before and after the release of the Malaysian Palm Oil Board’s data, said Cheang Kang Wei, agricultural commodities analyst at the Singapore-based StoneX brok...
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