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Malaysian palm oil futures struggled near a more than three-year low on Thursday after rising inventories weighed on the market. The January contract was flat at 1,972 ringgit a tonne after falling about 8.5 percent over seven sessions, with physical demand showing no sign of improvement.
Rising stockpiles and weak Indian and Chinese winter demand keep palm oil under pressure. Prices may stay depressed until fresh demand emerges.
thestar.com.myThe Star OnlineNov 15, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Reports palm futures near a 3-year low after about 8.5% fall over seven sessions on swelling stockpiles and weak physical demand, directly describing the move (published a day after window end, so confirmatory rather than causal).
