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Palm oil falls for a second session on weak rival oils
JAKARTA: Malaysian palm oil futures dropped for the second consecutive session on Monday, tracking rival vegetable oils on Chicago and Dalian exchanges, though stronger crude prices and a softer ringgit capped losses. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 9 ringgit, or 0.19%, to 4,663 ringgit ($1,142.05) a metric ton at closing. The contract traded in a tight range between 4,642 ringgit and 4,720 ringgit, after dropping 4.61% last week. A Kuala Lumpur-based trader said the contract was supported by strong crude oil and a weaker ri...
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