Palm oil extends four-day drop to 13%

Talk of Indonesia approving more export permits and expectations of rising Malaysian output are also pressuring prices, Thiagarajan said, adding traders will be watching surveyor export figures for Malaysia to have a clearer picture on inventories.

SINGAPORE: Palm oil stretched losses over four days to 13%, retreating from record highs, as petroleum prices plunge and traders keep a close watch on whether top grower Indonesia issues more export permits.

Futures for May delivery fell as much as 5.7% to RM5,996 a tonne, before closing at RM6,128.