Markets
Palm falls more than 3% as crude oil slumps on US-Iran ceasefire
- The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange slid 147 ringgit, or 3.08%, to 4,618 ringgit a metric ton in early trade
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KUALA LUMPUR: Malaysian palm oil futures fell more than 3% on Wednesday as crude oil prices plunged following a U.S-Iran ceasefire deal, while weaker rival edible oils also weighed on the market.
The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange slid 147 ringgit, or 3.08%, to 4,618 ringgit a metric ton in early trade, extending losses to a third straight session.
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