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6981 - Murata Manufacturing Co News Story

¥8998 -129.0  -1.4%

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Sector
Industrials
Size
Large Cap
Market Cap £38.85bn
Enterprise Value £37.71bn
Revenue £10.54bn
Position in Universe 18th / 3900

VEGOILS-Palm falls for third day, hits near two-week low on weak demand

Mon 23rd November, 2020 5:16am
* Palm hits lowest since Nov. 10; falls for a third day
    * Slowing demand weighs as Indian subcontinent cuts imports 

 (Updates with midday prices, adds quote)
    By Mei Mei Chu
    KUALA LUMPUR, Nov 23 (Reuters) - Malaysian palm oil futures
fell for a third straight session   on Monday, hitting a near
two-week low on shrinking November exports and tracking losses
in rival Dalian oils. 
    The benchmark palm oil contract  FCPOc3  for February
delivery on the Bursa Malaysia Derivatives Exchange slid 48
ringgit, or 1.46%, to 3,240 ringgit ($792.18) a tonne by the
midday break, its lowest since Nov. 10. 
    Palm fell 2.7% last week, ending a four-week rally.
    The contract is weaker on falling demand and possible rising
stocks in China, a Kuala Lumpur-based trader said.
    Exports from Malaysia during Nov. 1 to 20 fell 16% from the
same period in October, as shipments to the Indian subcontinent
contracted by almost half, according to data from cargo
surveyors on Friday.  urn:newsml:reuters.com:*:nL4N2I613E urn:newsml:reuters.com:*:nAZN00LQ24
    Dalian's most-active soyoil contract  DBYc2  fell 1.7%,
while its palm oil contract  DCPc2  slipped 3%. Soyoil prices on
the Chicago Board of Trade  BOc2  were up 0.4%.
    Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
    Palm oil may test a support at 3,261 ringgit per tonne, a
break below which could cause a fall into 3,173-3,221 ringgit
range, Reuters technical analyst Wang Tao said.  TECH/C 
    
 ($1 = 4.0900 ringgit)

 (Reporting by Mei Mei Chu; 
Editing by Rashmi Aich and Vinay Dwivedi)
 ((Meifong.chu@thomsonreuters.com))
 
((For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type  OILS/MY01 .
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in  OILS/ASIA2  and press enter, or double click between the brackets. 
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11.
Vegetable oils                        OILS/ASIA1 
Malaysian palm oil exports            SGSPALM1   
CBOT soyoil futures                   0#BO:      
CBOT soybean futures                  0#S:       
Indian solvent                        SOLVENT01  
Dalian Commodity Exchange             DC/MENU   
Dalian soyoil futures                 0#DBY:   
Dalian refined palm oil futures       0#DCP:   
Zhengzhou rapeseed oil                0#COI:   
European edible oil prices/trades     OILS/E    ))
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