Palm oil price declines as traders take profit

Malaysian palm oil futures ended higher on Wednesday, tracking buoyant soy oil and crude oil prices, and prompting short covering among traders.

KUALA LUMPUR: Malaysian palm oil futures fell almost 1 percent on Monday evening on profit-taking after recording their biggest daily gain in around five months in the previous trading session.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 0.9 percent to 2,528 ringgit ($619.61) at the end of the trading day.