Malaysian palm oil price slides on stronger ringgit, technical selling

Malaysian palm oil futures fell from a one-week high on Monday evening, weighed down by a stronger ringgit MYR=, which makes the tropical oil more expensive for holders of foreign currencies

KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday evening, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade.

A stronger ringgit typically makes palm oil more expensive for holders of foreign currencies. It closed on Wednesday evening 0.2 percent stronger against the dollar at 4.0710 and is currently trading at around 14-month lows.