Malaysian palm oil price inches lower on concerns over high inventory

Malaysian palm oil futures extended a downward trend, closing 0.3 percent lower on Monday as weak demand weighed on prices.

KUALA LUMPUR: Malaysian palm oil futures fell marginally on Thursday as concerns over high inventory levels overshadowed optimism linked to a crude oil price rally.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,002 ringgit ($477.80) per tonne in the first-half session of trading.