Malaysian palm oil price falls over 1% on weaker export outlook

Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

KUALA LUMPUR: Malaysian palm oil futures fell over 1 percent to their lowest in nearly three weeks on Monday as traders turned bearish due to a weaker outlook for exports.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell 1.1 percent to 2,266 ringgit ($556.76) a tonne at the end of the trading day, a second straight day of declines.