Malaysian palm oil price posts biggest intraday fall in a week on stronger ringgit

Malaysian palm oil futures slid for a third consecutive session on Monday, falling to its lowest since mid-November as slowing demand and expectations of higher supplies weighed on the market.

KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday, posting their biggest intraday drop in a week as the ringgit strengthened and made the vegetable oil more expensive for holders of other currencies.

The ringgit, the currency in which palm oil is traded, hit its strongest level in five-and-a-half months at 4.3100 per dollar. It was last quoted 0.2 percent stronger at 4.3170.