Palm oil falls to 6-month low on strengthening ringgit


Malaysian palm oil futures closed nearly 1 percent higher on Wednesday, posting their third straight session of gains, on the back of a weaker ringgit. (Filepic shows an oil palm plantation worker carrying an oil palm bunch to be loaded onto the back of a truck at a plantation near Sepang. - Reuters

KUALA LUMPUR: Malaysian palm oil futures hit a six-month low in evening trade on Friday and were headed for a third consecutive session of declines, weighed down by a stronger ringgit.

The ringgit, palm oil's currency of trade, hit a five-month high at 4.3960 per dollar and was last up 0.1 percent at 4.4050.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Radium’s net profit up to RM4.8mil in 3Q
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income
Lower interest costs buoy TSH nine-month showing
Zetrix a profit driver for MyEG Services
NFO segment to sustain Sports Toto’s earnings
Thong Guan spreading its wings to Europe, America
Hap Seng bottom line in four-fold rise
Mixed views on PetChem on higher interest expense
No new impetus seen for JETP under Trump

Others Also Read