KUALA LUMPUR, Jan 13: Malaysia’s palm oil futures slid lower at the close on Monday, lacking fresh impetus to move up after the Chicago soy market lost its footing last week, traders said.

Volume was moderate at 5,384 lots.

The MPOB said Malaysia’s crude palm oil output fell 12.88 per cent to 922,325 tons in December from 1.06 million tons in November.

India is keen to wait because soyoil prices are coming down. It also has its own oilseed crop, he added.

In the physical market, the January, February crude palm oil contract was offered at 1,680 ringgit a ton against bids of 1,670 ringgit for southern and regions.

Deals were reported at 1,680 ringgit a ton for south and at 1,670 to 1,675 ringgit for central.—Reuters