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Vegetable oil markets tumble on global recession fears

KUALA LUMPUR : Vegetable oil markets tumbled during Asian trade on Friday, following sell-offs in other commodity market
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By Syed Murtaza Gheblehzadeh
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vegetable-oilKUALA LUMPUR: Vegetable oil markets tumbled during Asian trade on Friday, following sell-offs in other commodity markets, as investor concerns of looming global recession heightened.

US soy-oil for October delivery tumbled more than 3 percent while China's most-active May 2012 soybean oil contract lost 5 percent.

Malaysian palm oil futures are likely to follow suit when the market reopens at 3.00 pm (0700 GMT), traders said.

 

Copyright Reuters, 2011

 

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