Malaysian palm oil price drops to 15-week low on hopes of rising output

Malaysia palm oil futures ended Thursday's trade lower, shedding more than 1 percent as sentiment tracked the softer performance of rival oils in Dalian and on the Chicago Board of Trade.

SINGAPORE: Malaysian palm oil futures slid for a fourth consecutive session on Tuesday, hitting their lowest in 15 weeks as expectations of higher production and ample supplies of rival soybean oil weighed on the market.

Benchmark palm oil futures for May delivery on the Bursa Malaysia Derivatives Exchange closed down 1.7 percent to 2,782 ringgit ($624.4) a tonne by the mid-day break. Earlier in the session, they hit a low 2,777 ringgit, the weakest since Nov. 8.