KUALA LUMPUR: Malaysian palm oil futures fell more than 1 per cent on Tuesday evening, erasing most of the previous session’s sharp gains, as falls in crude oil prices and expectations of higher inventories of the vegetable oil in December weighed on the market.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 1.3pc at 2,015 ringgit ($483.91) a tonne at the close of trade, after declining as much as 2pc to 2,001 ringgit earlier in the session. The declines were its sharpest daily levels in a week.

Trading volumes stood at 33,312 lots of 25 tonnes each at the end of the trading day on Tuesday.

Published in Dawn, December 12th, 2018