Malaysian palm oil price declines for 3rd straight day on weaker demand

Malaysian palm oil futures reversed losses in its second half of trade on Thursday, rising to a one-week peak as sentiment turned bullish on higher price forecasts from an industry conference.

KUALA LUMPUR: Malaysian palm oil futures slipped on Tuesday, posting a third day of declines amid slowing export demand.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to 2,254 ringgit ($552.86) a tonne at the close of trade. It had fallen to a three-week low of 2,247 ringgit earlier in the day after hitting a seven-month high last week.