Palm oil ends lower as investors book profits

JAKARTA: Malaysian palm oil futures extended losses and ended lower on Monday as investors booked profits, while losses in the Dalian market added to the decline.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was down 44 ringgit, or 1.11 per cent, at 3,933 ringgit ($903.10) a tonne. “The benchmark is having a correction from profit taking after the recent rally and tracking a decline in Dalian palm oil,” a Kuala Lumpur-based trader said.