Malaysian palm oil price hits 3-week low on weaker related oils, 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 recorded their sharpest daily decline in nearly two weeks on Friday evening, charting a third session of falls in four, weighed down by weakness in related oils and a stronger ringgit, palm's currency of trade. 

    Palm oil, as well as related vegetable oils such as soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange, tracked losses in the crude oil market because they are used as feedstock for biodiesel, a fuel alternative to crude.