Palm oil sinks to nine-month low on falling demand

July 14, 2014 |

In Malaysia, palm oil prices fell to a nine-month low on Friday of just under $747 per metric ton, the biggest drop in six weeks, following soy oil lower that then triggering liquidation of long positions. Prices were down 2.3% on the week and down 1.7% on the day. Indonesia’s failure to boost biodiesel consumption mixed with expectations of a bumper US soy crop is keeping demand for palm oil low.

 

Print Friendly, PDF & Email

Tags: , ,

Category: Fuels

Thank you for visting the Digest.