KUALA LUMPUR: Mala­y­sian palm oil futures fell for a third day on Tuesday and slide to their weakest in nearly two weeks, as crude deepened its sharp drop and volatility in emerging Asian markets turned investors wary.

Traders said while the palm market has been supported over the past weeks on hopes that weakening production will help shrink inventories, this week’s turmoil across equity markets and steep losses in crude could trigger more selling.

The benchmark March contract on the Bursa Malaysia Derivatives Exchange fell to a Dec. 3 low of 2,114 ringgit in afternoon trade, before settling down 2.4 per cent at 2,120 ringgit ($608) per tonne by Tuesday’s close.

Total traded volume stood at 52,441 lots of 25 tonnes, above the usual 35,000 lots.

Published in Dawn, December 17th, 2014