Malaysian palm oil price in sharpest drop in nearly a month

Malaysian palm oil futures closed higher on Tuesday, recovering from earlier declines as the ringgit's weakness helped prices

KUALA LUMPUR: Malaysian palm oil futures registered their biggest fall in nearly a month in evening trade on Tuesday, dragged down by forecasts of rising output in September and slower export demand from China and India.

    Benchmark palm oil futures for November closed 1.8 percent down at 2,592 ringgit ($631) a tonne on the Bursa Malaysia Derivatives Exchange for the biggest fall since Aug. 18 and having hit an intraday low of 2,589 ringgit.