Malaysian palm oil prices seen dropping further on India import duty — Mistry
SINGAPORE (Nov 21): Malaysian palm oil futures will likely fall a further 2%-3% after India, the world's biggest buyer, raised its import duties to the highest in a decade, top industry analyst Dorab Mistry said on Tuesday.
Malaysian palm oil futures slid for a third consecutive session on Tuesday to their weakest since mid-August at 2,612 ringgit (US$630.31) a tonne, hit by worries that India's surprise move late last week to raise duties on edible oil imports would hit demand.
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