Malaysian palm oil price snaps earlier losses on US soyoil gains, weaker ringgit

Malaysian palm oil futures fell more than 2 percent on Tuesday evening to a one-month low on expectations of rising production.

KUALA LUMPUR: Malaysian palm oil futures edged up on Monday, snapping two previous sessions of declines, supported by gains in U.S. soyoil and a weaker ringgit, palm's trading currency.

A weaker ringgit tends to support palm oil by making it cheaper for holders of foreign currencies. The ringgit was last down 0.1 percent against the dollar, and is at its weakest levels since November 2017.