KUALA LUMPUR: Malaysian palm oil futures fell more than 2 per cent to a one-week low in evening trade on Wednesday as an official data release from the Malaysian Palm Oil Board (MPOB) showed that March end-stocks and output were higher than forecast.

The data, released during the midday break, showed that March end-stocks were down 4.6pc from February at 2.92 million tonnes, while output rose 8.3pc to 1.67m tonnes.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 1.9pc at 2,170 ringgit ($528.62) a tonne at midday. It earlier fell as much as 2.6pc to 2,155 ringgit, the lowest level since April 2.

Published in Dawn, April 11th, 2019