Palm slides for fourth session on weaker rival oils, crude oil
The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 25 ringgit, or 0.52%, to 4,785 ringgit ($1,175.96) a metric ton in early trade
Malaysian palm oil prices dipped for a fourth consecutive day on Wednesday, as rivals' edible oils and crude oil rates weakened. The December palm oil contract on the Bursa Malaysia Derivatives Exchange dropped 25 ringgit, or 0.52%, to 4,785 ringgit ($1,175.96) per metric ton in early trading. Asian stocks aimed for a sixth day of gains, buoyed by signs of consumer demand for AI apps, while oil prices slid due to reports of heightened Middle East supply.
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