Palm Oil Has Biggest Weekly Decline in Two Months on Stockpiles

Palm oil posted its biggest weekly loss since November as record reserves and declining exports in Malaysia, the second-largest producer, prompted analysts to push back forecasts for a price rebound during the low-output season.

The contract for March delivery lost 0.9 percent to close at 2,366 ringgit ($783) a metric ton on the Malaysia Derivatives Exchange in Kuala Lumpur. Futures, which dropped 1 percent yesterday after the inventory data was released, fell 4.1 percent this week, the most since the five days ending Nov. 9.