The Hindu Business Line

Palm oil slips from 4-1/2-year high

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Malaysian palm oil futures fell from a four-and-a-half-year high in late trade on Friday, as it came under profit-taking pressure and corrected on softer rival oils on China’s Dalian Commodity Exchange.

Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivative­s Exchange was down 0.8 per cent at 3,161 ringgit ($706) a tonne.

Palm earlier saw three consecutiv­e sessions of gains this week supported by a weaker ringgit and bullish government data from the Malaysian Palm Oil Board that showed declining output and lowerthan-forecast inventory levels.

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