Palm Oil Has Worst Losing Streak Since 2006 on Inventory Worries
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Palm oil fell for an eighth day, the worst run in almost seven years, on speculation that declining exports may keep inventories near a record high in Malaysia, the largest producer after Indonesia.
The contract for May delivery dropped 1.2 percent to 2,368 ringgit ($764) a metric ton on the Malaysia Derivatives Exchange, the lowest price at close for the most-active futures since Jan. 11. The losing streak is the longest since March 2006. Futures tumbled 6.3 percent last month.