KUALA LUMPUR, Dec 9: Malaysians palm oil futures drifted lower on Monday as players took profit ahead of December 1-10 export data, traders said.’

At the close, the benchmark third-month February contract was 16 ringgit lower at 1,600 ringgit ($421.05) a ton after trading as high as 1,630.

Volume was heavy at 4,799 lots, but down from 6,803 lots on Wednesday. The market was closed on Thursday and Friday for the Muslim Eid al-Fitr holidays.

In a quiet physical market, the crude palm oil contract for December saw bids close at 1,610 ringgit a tonne against sale offers of 1,615 in the southern region.

December (central) was offered at 1,615 ringgit against bids of 1,605.

January CPO was on offer at 1,620 against bids of 1,610 for south and central. Deals were reported at 1,620 for south.—Reuters