JAKARTA, May 30: Malaysian palm oil futures snapped a four-day rally on Wednesday, falling more than 2 per cent as eurozone debt jitters weighed on prices, although losses were capped by expected demand ahead of the fasting month of Ramazan in July.

The benchmark August palm oil futures on the Bursa Malaysia Derivatives Exchange ended 2.1 per cent lower at 3,111 Malaysian ringgit ($990) per ton. Prices, which earlier hit a low at 3,106 ringgit, have slipped more than 10 per cent this month.

Traded volumes stood at 17,601 lots of 25 tons each, compared with Tuesday’s total at 15,689 lots.

Palm oil is “taking its cue from macro uncertainties,” said a Kuala Lumpur-based trader. “If Europe fails to provide the much needed simulation, it will have more downside.”—Reuters