Malaysian palm oil price falls 2% on stronger ringgit, weaker demand

Indonesia, the world's top exporter of palm oil, will not collect levies from palm exporters when prices are below a threshold of $570 per tonne, but will charge $10-$25 once prices are in a range of $570-$619 per tonne. The range will rise to $20-$50 when prices hit above $619 per tonne.

KUALA LUMPUR: Malaysian palm oil futures fell to a one-month low late on Monday, charting a second consecutive session of declines weighed down by expectations of weaker demand and stronger than expected output levels in the coming weeks.

Traders also said the market was under pressure from a stronger ringgit, which usually makes the edible oil more expensive for foreign buyers. The ringgit gained 0.3 percent against the dollar on Monday evening at 4.0650.