Energy Markets
VEGOILS-Palm oil ends short on heavy losses at Dalian rival oils
Malaysian palm oil futures closed down for a second session in a row on Wednesday, dragged down by the heavy losses in costs of competing vegetable oils in Dalian. The benchmark palm oil contract for January shipment on the Bursa Malaysia Derivatives Exchange lost 42 ringgit, or 0.84%, to 4,984 ringgit ($ 1,121.01) a metric ton on the closing. Prices have dramatically decreased listed below the 5,000 ringgit level, exacerbated by weakness in the Chinese-related veggie oils market. This suggests a debt consolidation following the recent bull ranged from Sept. 18 to Nov. 11, said Darren Lim, products strategist at...