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Vegoils: Palm oil hits two-year low on weaker Dalian oils, stronger ringgit

Reuters  |  KUALA LUMPUR 

By Emily ChowKUALA LUMPUR (Reuters) - Malaysian palm oil futures fell more than 1 percent to a two-year low on Tuesday, hurt by weaker oils on China's Dalian Commodity Exchange and a firmer ringgit.The ringgit rose to its strongest levels against the dollar in two weeks on Tuesday, and was up 0.1 percent at 4.0200 per dollar at 1040 GMT. A stronger ringgit, palm's traded currency, makes the edible oil more expensive for foreign buyers. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 2,259 ringgit ($561.94) a tonne at ...

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First Published: Tue, July 10 2018. 16:35 IST