| Date: |
03-09-2010 |
| Subject: |
Palm oil price falls |
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Palm oil futures dropped for a second day as declining exports in Malaysia, the world's second-largest producer, weighed on prices.
Futures for November delivery fell as much as 0.2 percent to 2,529 ringgit ($807) a metric ton on the Malaysia Derivatives Exchange and were little changed at 2,533 ringgit at the 12:30 pm (local time) break.
Shipments from Malaysia declined 13.6 percent in August, market surveyor Intertek said on Wednesday and cargo surveyor Societe Generale de Survelliance estimated exports from the nation dropped 17.8 percent last month.
Palm oil must rally to discourage imports by India and China, the world's largest consumers, as production will be little changed this year, according to Godrej International Ltd.
Source : english.peopledaily.com.cn
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