AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

KUALA LUMPUR: Malaysian palm oil futures slumped more than 3% on Thursday to their lowest in two weeks, weighed down by slower demand and higher production concerns.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange ended down 141 ringgit, or 3.58%, at 3,796 ringgit ($923.83) a tonne.

Palm fell to its lowest since March 5 and logged its sharpest daily decline in a month. “There is a concern for demand in March and April, and production for the first 15 days of March is showing a rapid increase of almost 30%,” said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.

Prices are set for a major correction due to the culmination of very good production with tapering demand, he added. Dalian’s most-active soyaoil contract fell 1.7%, while its palm oil contract slipped 0.2%. Soyaoil prices on the Chicago Board of Trade were also down 0.7%.

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

Comments

Comments are closed.

Palm oil slumps 3.6pc to two-week low

Moonis’ claims on Gen Bajwa raises doubts on institution’s apolitical narrative: Sanaullah

PTI quitting provincial assemblies will be humiliating for its voters: Saad Rafiq

Russia: price cap is ‘dangerous’ and will not curb demand for our oil

Pakistan calls on interim Afghan govt to up security at Kabul embassy after attack

US unveils high-tech B-21 stealth bomber

England in charge in Rawalpindi despite Babar hundred

SBP repays $1bn bond before due date

Maj-Gen Sharif made ISPR DG

‘Won’t take IMF’s dictation’: Dar

Zelenskiy’s chief of staff: Price cap on Russian oil should be lowered to $30 a barrel