KUALA LUMPUR, Nov 15: Malaysia’s crude palm oil futures closed lower on Tuesday, weighed down by a drop in rival soyaoil prices and export data for the first half of November. The benchmark third-month January contract on Bursa Malaysia Derivatives ended down 7 ringgit at 1,422 ringgit ($376.19) a ton.

Overall volume increased to 4,855 lots of 25 tons each, from Monday’s 2,186 lots.

Soyaoil futures on the Chicago Board of Trade saw double-digit losses on Monday, although contracts for the nearby months of December and January recovered slightly in Tuesday’s electronic session conducted during Asian hours.

In physical dealings of crude palm oil in Malaysia, the November contract was quoted at 1,425/1,430 ringgit a ton in the southern region and 1,420/1,425 in the central region.

Trades were reported at 1,435-1,430 in the southern region and 1,430-1,425 in central. —Reuters