Palm Oil Drops for Fourth Day on Concern Stockpiles Will Expand
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Palm oil declined for a fourth day to the lowest level in more than a week on speculation that stockpiles in Malaysia, the largest producer after Indonesia, will climb from a record as exports drop.
The contract for February delivery lost 0.7 percent to 2,395 ringgit ($783) a metric ton on the Malaysia Derivatives Exchange, the cheapest settlement price at close for the most-active contract since Nov. 12. Futures, little changed this week, are heading for a 25 percent drop this year.