Palm oil snaps three-day rally as crude oil declines

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 28 ringgit, or 0.72%, at 3, 864 ringgit ($922.42) a tonne, after rising as much as 1.8% earlier.

KUALA LUMPUR: Malaysian palm oil reversed early gains to end lower on Monday, snapping a three-day rally, as crude oil prices fell but better than expected July 1-10 exports capped losses.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 28 ringgit, or 0.72%, at 3, 864 ringgit ($922.42) a tonne, after rising as much as 1.8% earlier.