(Bloomberg) -- Malaysia palm oil futures fell to a
five-day low on concern the recent record price is not justified
because higher global interest rates signal slower economic
growth and consumer demand.
Palm oil for August delivery, the most actively traded
contract on the Malaysia Derivatives Exchange, dropped as much
as 2.6 percent to 2,577 ringgit a ton and traded at 2,588
ringgit a ton at the end of the morning session. The commodity
reached a record 2,764 ringgit a ton on June 6.
Read more at Bloomberg Commodities News
five-day low on concern the recent record price is not justified
because higher global interest rates signal slower economic
growth and consumer demand.
Palm oil for August delivery, the most actively traded
contract on the Malaysia Derivatives Exchange, dropped as much
as 2.6 percent to 2,577 ringgit a ton and traded at 2,588
ringgit a ton at the end of the morning session. The commodity
reached a record 2,764 ringgit a ton on June 6.
Read more at Bloomberg Commodities News
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