KUALA LUMPUR: Malaysian palm oil futures eased for the first time in five days on Thursday as investors banked profits after prices hit a three-week high, although optimism of improving food and fuel demand kept stemmed losses.

The benchmark July contract on the Bursa Malaysia Derivatives Exchange touched 2,700 ringgit in early Thursday trade, but then fell to 2,648 ringgit ($817) per tonne by the day’s close, down 1.3 per cent.

Total traded volume stood at 40,587 lots of 25 tonnes, above the average 35,000 lots.

The US soyoil contract for May slipped 0.5pc in late Asian trade, while the most active September soybean oil contract on the Dalian Commodities Exchange rose 1.1pc.