Malaysian palm oil price hits lowest in almost 3 years

Malaysian palm oil futures fell nearly 1 percent to their lowest level in two weeks on Monday, recording a third consecutive session of losses, due to weaker exports.

KUALA LUMPUR: Malaysian palm oil futures dropped to their lowest in nearly three years on Thursday, tracking overnight declines in related edible oils, before trimming some losses on the back of a weaker ringgit.

A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers.