Palm Oil Drops to One-Month Low on Rising Soybean Oil Supplies
This article is for subscribers only.
Palm oil dropped for a second day to the lowest in more than a month on speculation that demand for the commodity may weaken amid rising supplies of soybean oil.
The contract for September delivery lost 1 percent to 2,355 ringgit ($742) a metric ton on the Bursa Malaysia Derivatives, the lowest price at close for the most-active futures since May 21. Palm for local physical delivery in July was at 2,375 ringgit, data compiled by Bloomberg show.