Malaysian palm oil futures rose nearly 2 percent on Tuesday, hitting their highest in nearly three weeks, as production rose more slowly than expected.
KUALA LUMPUR: Malaysian palm oil futures closed lower on Tuesday, erasing earlier gains which were driven by Chicago Board of Trade (CBOT) soyoil prices and a softer ringgit, as traders responded to speculation of weaker export data.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 0.6% lower at 2,022 ringgit ($483.73) per tonne.
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