Malaysian palm oil price drops on high stock outlook, Indonesian levy change

Malaysian palm oil futures fell on Wednesday evening, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade.

KUALA LUMPUR: Malaysian palm oil futures fell more than 1 percent on Wednesday due to expectations of rising inventories in Malaysia and a change in Indonesia's export levy rules.

Indonesia relaxed rules on palm oil levies and derivative products effective immediately following a drop in prices, the country's finance ministry said on Wednesday.