Markets
Palm drops, mirroring rival edible oils; heads for weekly gain
- The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange lost 78 ringgit, or 1.81%, to 4,239 ringgit
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JAKARTA: Malaysian palm oil futures tumbled in early trade, mirroring losses in Chicago soyoil, Dalian palm olein and soyoil futures, although the futures were still on track for a fourth consecutive weekly gains.
The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange lost 78 ringgit, or 1.81%, to 4,239 ringgit ($1,076.43) a metric ton.
The futures were on track for a 1.84% weekly gain.
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