Malaysian palm oil price snaps winning streak after profit-taking

Malaysian palm oil futures fell to a four-month low on Wednesday evening, a third consecutive session of losses as the ringgit strengthened against the dollar, making the tropical oil more expensive for holders of foreign currencies

KUALA LUMPUR: Malaysian palm oil futures snapped their winning streak on Thursday, with traders pointing to profit-taking that added to price pressure from weakness in U.S. soyoil.     

    The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 2,549 ringgit ($648.84) a tonne at the close of trade, snapping five days of gains.