KUALA LUMPUR: Malaysian palm oil futures fell to their lowest levels in a week in early trade on Tuesday, pressured by weaker performances in related edible oils with traders taking profits ahead of a long public holiday weekend.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange fell 0.7 percent at 2,718 ringgit ($637.06) at the midday break. Earlier in the session it fell to 2,713 ringgit, its lowest levels since Aug. 21. The market is in line for a third straight day of declines after climbing to a five-month high last week. Traded volumes were comparatively thin at 13,264 lots of 25 tonnes each at noon. The Bursa Malaysia Derivatives Exchange market will be closed for public holidays on Thursday and Friday.
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