Plunging prices of palm oil has wiped out hundreds of millions of ringgit from export revenue this month, spelling trouble for the country’s balance of trade, reports KiniBiz.<br /><br />Conservative estimates by the business news portal place the loss to export revenue in August so far at RM300 million and counting.<br />The price of globally traded crude palm oil as reported by the Malaysian Palm Oil Board (MPOB) has fallen from a July average of just under RM2,400 per metric tonne to close last Friday at RM2,030 per tonne, a near 5-year low.
