Palm oil futures in Malaysia pressured by rival oils, crude
Malaysian palm oil January futures fell 80 ringgit (1.67%) to 4,709 ringgit a ton on Tuesday as weaker rival edible oils and softer crude weighed on early trade — a signal for Pakistan edible-oil import costs.
Malaysian palm oil futures opened lower on Tuesday in Kuala Lumpur.
Weaker prices for rival edible oils put pressure on the market.
Softer crude oil prices also weighed on palm oil futures in early trade.
The move was reported in early trading on the Malaysian market.