Crude palm oil price falls to two-week low

Higher biodiesel usage is an important factor behind improving CPO prices in 2016, as CPO is the main raw material for biodiesel.

KUALA LUMPUR: Malaysian palm oil futures on Monday hit a two-week low, recording a second straight session of declines, as prices were weighed down by prospects of improving levels in production. 

Benchmark palm oil futures for April delivery on the Bursa Malaysia Derivatives Exchange was down 1.2 percent at 3,036 ringgit ($682.71) a tonne at the close of trade. It earlier fell to 3,019 ringgit, palm's weakest levels since Jan. 31.