 "oil, oil prices, brent crude, oil crisis, currency depreciation, iran oil crisis, global oil, oil firms, economy")
The world’s most-used edible oil is having a horrid year as a powerful mix of drivers pushes down prices — from a slump in petroleum costs to allegations that expanding plantations have destroyed orangutan habitats.
Benchmark futures in Malaysia have plunged about 18 per cent this year, similar to the annual decline in 2017, with prices languishing near their lowest in more than three years. Used in everything from chocolate to fuel, palm oil will probably end the year at 2,000 ringgit a tonne, according to a Bloomberg survey this month. That compares with 2,060 ringgit on Friday.
The
Benchmark futures in Malaysia have plunged about 18 per cent this year, similar to the annual decline in 2017, with prices languishing near their lowest in more than three years. Used in everything from chocolate to fuel, palm oil will probably end the year at 2,000 ringgit a tonne, according to a Bloomberg survey this month. That compares with 2,060 ringgit on Friday.
The
