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Palm Oil (CPO) News - Malaysisan Palm oil futures witnessed losses on Tuesday
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Malaysisan Palm oil futures witnessed losses on Tuesday

Malaysisan Palm oil futures witnessed losses on Tuesday, following warning by Dorab Mistry that prices would plunge by 30% by December. BMD palm oil fell 1.5% to 3,490 ringgit/tonne in early trade. It declined 8.9% in last three sessions.

Malaysian palm oil prices will plunge to 2,500 ringgit by the end of December, weighed down by improving production, demand destruction and slowdown in major economies, leading analyst Dorab Mistry said.