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@ EconomicTimes

Worst price drop of Palm oil in 11 years

Palm oil prices have dropped more than 12% so far this week. After the coronavirus rapidly hit China, the demand for Palm oil has reduced. Another reason for this pressure is political uncertainty in Malaysia. This is the worst drop in palm oil prices since 2008. The most-consumed edible oil has also down 27% from January this year. Slumping in petroleum prices and weaker export was also responsible for this scenario.

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