KL palm oil at four-week low

KL palm oil at four-week low

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed at their lowest level in four weeks on Monday as players liquidated positions amid market talk that production in January could be higher than earlier projections.

The benchmark third-month April futures contract ended down 21 ringgit at 759 ringgit ($199.74) a tonne, the day's low. Volume was 1,677 lots against 1,247 on Friday.

Physical palm oil prices also lost ground but activity was light due to a lack of buyers.

February (south) crude palm oil was offered at 705 ringgit a tonne against bids of 700 and trade at 705.

March (south) saw offers at 745 ringgit and bids of 735.

Among refined products, February RBD palm oil was offered at $200 a tonne FOB and March at $207.50.

There were offers for February RBD olein at $207.50 and March at $215.

February RBD palm stearin was offered at $190 and February palm fatty acid distillate at $185.