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| Commodity News |
| HeadLine : |
Palm oil drops on profit-taking, lacklustre soy oils |
| Date : |
Mar 20 2024 |
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Malaysian palm oil futures shed early strength to edge lower on Tuesday, in the absence of no new catalysts in the market and weakness in Dalian and Chicago soy oils.Weakness in Chicago soyoil futures and the South American soyoil prices has cautioned palm oil buyers, he added, as the palm oils premium over the competition has widened.Malaysia maintained its export tax for crude palm oil at 8% for April and raised its reference price, according to Malaysian Palm Oil Board.Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Source:in Commodity News
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