Malaysian palm oil price drops to near 3-month low on rising output

Malaysian palm oil futures came off near three-month lows to trade higher on Tuesday evening on concerns about a decline in February production, traders say.

KUALA LUMPUR: Malaysian palm oil futures fell to their lowest in nearly three months on Thursday evening, weighed down by expectations of rising output and tracking weaker performing rival oils.

Benchmark palm oil futures for May delivery on the Bursa Malaysia Derivatives Exchange were down 1.3 percent to 2,929 ringgit ($658.05) a tonne at the end of the trading day.