Malaysian palm oil price falls to 1-week low as high stocks weigh

Malaysian palm oil futures fell on Thursday, snapping two days of gains, as it tracked weaker crude oil prices and a drop in U.S. soyoil in Chicago

KUALA LUMPUR: Malaysian palm oil futures slipped to a more than one-week low at one point on Thursday as high inventory levels continued to weigh on the market.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 0.8 percent at 2,120 ringgit ($520) a tonne by the close of trade, after hitting a more than one-week low of 2,106 ringgit earlier in the session. It charted a fourth session of losses out of the past five trading days.