Palm oil lowers

KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in nearly one week on Monday, in line for a third straight session of losses, tracking losses in related edible oils and as a stronger ringgit weighed.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to 2,816 ringgit ($673.20) a tonne at the midday break, the first day of a new trading contract.

It earlier hit a low of 2,815 ringgit, its weakest since Sept. 12. Traded volumes stood at 17,478 lots of 25 tonnes each at noon.

"We´re seeing some declines as soyoil was down on Friday and Dalian is also down," said a Kuala Lumpur-based futures trader, referring to soyoil on the Chicago Board of Trade and China´s Dalian Commodity Exchange. —