Palm oil extends losses to third session on weaker rival oils

31 Jan, 2024

SINGAPORE: Malaysian palm oil futures fell on Wednesday tracking weaker rival edible oils, although a muted ringgit and strong economic growth forecast for top importer India capped losses.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell 6 ringgit, or 0.16% to 3,836 ringgit ($811.34) a metric ton in morning trade.

Palm oil dives 2.7% amid plunging rival edible oils, stronger ringgit

It had gained 0.16% during overnight trade.

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