Malaysian palm oil price hits 1-month low on weaker related oils

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives exchange was up 1.1% at 2,004 ringgit ($486.64) per tonne at the close of trade, after declining earlier on overnight losses in U.S. soyoil on the Chicago Board of Trade (CBOT).

KUALA LUMPUR: Malaysian palm oil futures extended losses on Monday to hit a one-month low, weighed down by weaker related oils and crude oil.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange closed down 0.47 percent at 2,109 ringgit ($510.41) a tonne, having earlier hit its lowest level since April 1 at 2,099 ringgit.