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Malaysian palm

Palm oil slumps 5pc on fears of plunge in January exports

Palm oil slumps 5pc on fears of plunge in January exports

  • Palm oil's biggest daily drop in eight months was mainly due to apprehensions of Malaysia's exports falling 40% during Jan. 1 to 15 on-month.
  • Both India and China are in resting mode after buying heavily in November and December prior to higher export duties and levies coming in place.
Published 14 Jan, 2021 05:57pm
Palm oil falls over 2pc as export drop stokes demand worries
Markets

Palm oil falls over 2pc as export drop stokes demand worries

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed down 95 ringgit to 3,702 ringgit a tonne.
  • Palm marked its second straight day of losses and biggest intraday percentage decline since Nov. 16.
Published 12 Jan, 2021 05:41pm
Palm oil may rise to 3,757 ringgit
Markets

Palm oil may rise to 3,757 ringgit

  • On the daily chart, the contract is poised to test a resistance at 3,698 ringgit, the 86.4% projection level of an upward wave C from 2,691 ringgit.
Published 04 Jan, 2021 10:12am