KUALA LUMPUR: Palm oil fell as much as 0.3 percent to 3,478 ringgit a metric ton on the Malaysia Derivatives Exchange. Futures were little changed at 3,489 ringgit at 10:32 a.m. in Kuala Lumpur.
Demand for edible oils is climbing to a record as drought damages crops across South America, leaving buyers with the smallest stockpiles in three decades.
The use of soy, palm, rapeseed and six other oils will increase 3.9% this year, reducing the ratio of reserves to demand to the lowest since 1977, the US Department of Agriculture estimates. (Bloomberg/T03)
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