Malaysian palm oil futures fell on Thursday evening, hitting a five-month low and recording a ninth straight day of losses, as traders sell because of concerns of export weakness.
A strengthening ringgit and falls in competing vegetable oils have also undermined the edible oil. A stronger ringgit, the currency of trade for palm, makes it more expensive for foreign currency holders.
It earlier rose against the dollar to an intraday high of 4.0800 before weakening slightly by 0.01 percent to reach 4.0990 in the evening.
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A strengthening ringgit and falls in competing vegetable oils have also undermined the edible oil. A stronger ringgit, the currency of trade for palm, makes it more expensive for foreign currency holders.
It earlier rose against the dollar to an intraday high of 4.0800 before weakening slightly by 0.01 percent to reach 4.0990 in the evening.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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