Malaysian palm oil price closes lower for 4th day on weaker soyoil

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 closed lower on Wednesday for a fourth consecutive session on back of weaker U.S. soyoil, reversing gains notched up earlier in the day.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to 2,250 ringgit ($554) a tonne at the close, after earlier rising as much as 0.8 percent in its first half of trade.