Malaysian palm oil price falls to near 3-month low on weak Chinese oils

Malaysian palm oil futures saw their biggest rise in one-and-a-half months on Tuesday, rebounding by nearly 3 percent from sharp losses in the previous session, on a weaker ringgit and expectations of lower future production.

KUALA LUMPUR: Malaysian palm oil futures hit their lowest level in nearly three months on Monday, dragged down by losses in Chinese vegetable oils, while a stronger ringgit also weighed on sentiment earlier in the day. 

    The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange had fallen 1.4 percent to 2,492 ringgit ($610) per tonne by the closing trade, posting its third loss in the past four sessions.