Malaysian palm oil futures slide for fourth straight session on inventory worries
December palm oil futures fell 12 ringgit (0.26%) to 4,612 ringgit/ton; expectations for higher inventory cited ahead of Oct 12 data.
(Recasts, updates with closing prices, analyst comments) JAKARTA, Sept 30 (Reuters) — Malaysian palm oil futures slid for a fourth consecutive session and booked their first monthly drop in four months on Wednesday as expectations of rising inventory pressured the contract. 06) a metric ton, their lowest closing since July 21. 76% in September. "Crude palm oil futures market is still in bear mode.
Market players are anticipating high end stocks," a Kuala Lumpur-based trader said, adding the market is waiting for September-end inventory data that will be released by the Malaysian Palm Oil Board on October 12 for further direction. 1%. 06%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
5 million metric tons, as a cut in import duties has lowered prices and boosted demand, while palm oil imports are likely to remain steady, the head of a leading industry body told Reuters on Wednesday. 8% compared to August shipments, cargo surveyor Intertek Testing Services and AmSpec Agri Malaysia said on Wednesday. com)