Malaysian palm oil price hits near 4-month low on rising output, weak demand

Malaysian palm oil gave up its early gains on Thursday, declining towards the end of the trading day as rallies of rival vegetable oils on China's Dalian Commodity Exchange slowed and palm export demand weakened

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday evening, charting a fifth session of losses in six and hitting their lowest in nearly four months as concerns persisted over rising production and weak exports.

Benchmark palm oil futures for May on the Bursa Malaysia Derivatives Exchange declined 1 percent to 2,782 ringgit ($625.59) a tonne at the close of trade. The contract dropped to as low as 2,743 ringgit in the second half of trading, its weakest since Nov. 4.