The Hindu Business Line
Palm oil slips from 4-1/2-year high
Malaysian palm oil futures fell from a four-and-a-half-year high in late trade on Friday, as it came under profit-taking pressure and corrected on softer rival oils on China’s Dalian Commodity Exchange.
Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 per cent at 3,161 ringgit ($706) a tonne.
Palm earlier saw three consecutive sessions of gains this week supported by a weaker ringgit and bullish government data from the Malaysian Palm Oil Board that showed declining output and lowerthan-forecast inventory levels.