KUALA LUMPUR: Palm oil futures slid for a fourth consecutive session on Tues­day, hitting their lowest in 15 weeks as expectations of higher production and ample supplies of rival soybean oil weighed on the market.

Benchmark palm oil fu­­tures for May delivery on the Bursa Malaysia Derivatives Exchange closed down 1.7 per cent to 2,782 ringgit ($624.4) a tonne by the mid-day break.

Earlier in the session, they hit a low 2,777 ringgit, the wea­­kest since Nov 8. The traded volume stood at 73,468 lots of 25 tonnes each.

Published in Dawn, February 22nd, 2017