Malaysian palm oil price falls below 2,000 ringgit for 1st time in 3 years

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 0.32 percent to 2,188 ringgit ($528.50) per tonne by the midday break. Palm oil posted a combined 1.8 percent gain in the previous two sessions, after hitting a three-year low last week.

KUALA LUMPUR: Malaysian palm oil futures fell below the 2,000 ringgit level for the first time in three years on Wednesday, weighed down by losses in related edible oils on China's Dalian Commodity Exchange and lower than forecast year-end inventory levels.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 1.7 percent at 1,973 ringgit ($470.38) a tonne, its seventh consecutive day of losses.
It earlier fell as much as 2.1 percent to 1,965 ringgit, its weakest level since August 2015.