24 September 2012 11:19 [Source: ICIS news]
The December contract on the Bursa Malaysia Derivatives Exchange settled at ringgit (M$) 2,651/tonne ($869/tonne), down from M$2,763/tonne on 21 September.
The falling palm futures have dampened the sentiment of buyers in the downstream oleochemical sector.
Several fatty acid and fatty alcohol buyers said they prefer to minimise or delay their new purchases.
“We are going to book some cargoes but we will reduce our purchases. We expect prices to fall further," said a fatty alcohol buyer in
($1 = M$3.05)
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