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Palm slides to over 7-week low on stock fears
KUALA LUMPUR: Malaysian palm oil futures tumbled more than 2% on Friday to their lowest level in over seven weeks, pressured by expectations of higher output and weak exports that could boost inventories. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 99 ringgit, or 2.07%, to 4,673 ringgit ($1,148.16) a metric ton, the lowest closing since August 3. The contract fell 4.59% this week after rising 1.74% in the previous week. Crude palm oil futures remained bearish despite India’s import duty cuts on edible vegetable oils, said Anilkumar Baga...
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