Malaysian palm futures down 1% on sluggish exports, firm output

Palmoil IOI

KUALA LUMPUR Malaysian palm oil futures fell over 1% on Monday evening, extending losses into a fourth consecutive session on expectations of sluggish export demand and higher production.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was down 1.7% at 2,189 ringgit ($524.06) per tonne at the close of trade, its sharpest daily decline in three weeks.