Markets
Malaysian palm extends losses on weaker rival oils; firmer crude caps downside
- The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 38 ringgit, or 0.83%, to 4,541 ringgit
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KUALA LUMPUR: Malaysian palm oil futures on Thursday extended losses for a second consecutive session, as weaker rival edible oils pressured the market, although firmer crude oil prices capped the downside.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 38 ringgit, or 0.83%, to 4,541 ringgit ($1,161.38) a metric ton in early trade.
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