Palm oil futures in Malaysia, the global benchmark, declined the most in more than 10 weeks on improved weather outlook for South America which may help soyabean crops and boost global vegetable oil supplies.
Palm oil for March delivery fell 75 ringgit, or 2.4%, to settle at 3,050 ringgit ($922) a tonne on the Malaysia Derivatives Exchange.
The commodity reached a record 3,150 ringgit on December 27 and has gained 54% this year, its best yearly performance since 1997.
Palm oil for March delivery fell 75 ringgit, or 2.4%, to settle at 3,050 ringgit ($922) a tonne on the Malaysia Derivatives Exchange.
The commodity reached a record 3,150 ringgit on December 27 and has gained 54% this year, its best yearly performance since 1997.
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