Palm oil falls to lowest in more than two years - Business News

referring to KUALA LUMPUR: Crude palm oil for September delivery fell as much as 1.3% to RM2,176 per tonne on Bursa Malaysia Derivatives on Thursday, the lowest intraday level for most-active contract in more than two years. Weaker crude oil prices also pressuring palm amid trade war between the US and China: Modi* Biggest palm oil buyer seen reducing imports for a second month. * Indonesia's palm oil reserves unexpectedly jump on higher production. * Soybean oil for December delivery on Chicago Board of Trade +0.1% to 28.84c/lb; Nov. soybeans +0.6% to $8.53 1/4/bushel. * Refined palm oil for September delivery on Dalian Commodity Exchange -0.7% to 4,622 yuan/ton; Sept. soybean oil -0.1% to 5,496 yuan/ton.

Malaysian palm oil price hits lowest in almost 3 years - Business News

A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers. "Palm prices earlier weakened on China's palm olein," said a futures trader in Kuala Lumpur, referring to the palm contract on the Dalian Commodity Exchange. Palm oil prices are usually affected by the performance of other edible oils that compete for a share in the global vegetable oils market. The Chicago December soybean oil contract edged down by 0.1 percent, as did the September soybean oil contract on China's Dalian Commodity Exchange. The Dalian September palm oil contract declined by 0.7 percent.

KLCI moves higher as oil prices, ringgit firm up - Business News

as informed in KUALA LUMPUR: Bursa Malaysia continued its its rally on Tuesday even as investor sentiment turned optimistic on high expectations for Wall Street's corporate earnings season.At 12.30pm, the FBM KLCI was up 7.77 points to 1,680.40. Trading volume was 1.02 billion shares worth RM969.02mil. There were 397 gainers versus 287 decliners and 360 counters unchanged.Leading the advance, Maxis added 11 sen to RM5.38. The counter rose 73 sen to RM9.86.LPI Capital, which announced dividends amid softer earnings yesterday, rose 16 sen to RM17.16.Taking a step back, Dutch Lady fell 28 sen to RM66.98, United Plantation dropped 18 sen to RM26.62 and Rapid lost nine sen to RM5.80.Oil prices were on the rise as oil workers in Norway prepared to strike after rejecting a proposed wage deal.WTI crude gained 21 cents to US$74.06 a barrel and Brent crude gained 36 cents to US$78.43 a barrel.In currencies, the ringgit strengthened 0.5% against the greenback to 4.0090. It was also 0.61% stronger against the Singapore dollar at 2.9601 and 1.35% firmer against the pound sterling at 5.3065.

collected by :Frank Ithan