Global impact: Analysts say the spread of coronavirus, leading to a lockdown of cities in China, curfews and curbs in travel, means lower spending, lower usage of edible oils in the food industry and a slowdown in economic activity.
PETALING JAYA: Crude palm oil (CPO) prices on Bursa Derivatives posted their biggest single-day drop since 2008 on concerns that rapidly spreading coronavirus will reduce demand from China, the world’s second biggest importer.
The benchmark third-month CPO futures contract plunged 10%, triggering an automatic cooling-off period imposed by the exchange.
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