KUALA LUMPUR: Malaysian palm oil futures had their sharpest daily fall in a month late on Monday, marking their third straight session of losses, tracking weakness in related edible oils and as a stronger ringgit weighed on the market.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 1.1 per cent to 2,805 ringgit ($669.93) a tonne at the end of the trading day, the first day of a new trading contract. It earlier hit a low of 2,803 ringgit, its weakest since Sept 12.

Traded volumes stood at 44,183 lots of 25 tonnes each on Monday evening. “We’re seeing some declines as soyoil was down on Friday and Dalian is also down,” said a Kuala Lumpur-based futures trader, referring to soyoil on the Chicago Board of Trade and China’s Dalian Commodity Exchange.

Published in Dawn, September 19th, 2017