Palm oil snaps two-day winning streak on weaker crude prices

Malaysian palm oil futures snapped a two-session rally on Monday, weighed down by weaker crude oil prices although production concerns and strength in rival edible oils capped the losses.

The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange fell 23 ringgit, or 0.51% to 3,916 ringgit ($830.61) a metric ton in morning trade.

The contract jumped 2.2% last week on concerns of stagnant production in the world’s palm oil producers.

Tags: Malaysia, palm oil, edible oils, futures, prices, Production