Palm Oil Drops on Forecasts for Higher Global Oilseed Stockpiles
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Palm oil fell on speculation that rising global oilseed stockpiles may curb demand for the tropical oil, expanding inventories in top producers.
The contract for May delivery retreated 0.6 percent to close at 2,399 ringgit ($773) a metric ton on the Malaysia Derivatives Exchange in Kuala Lumpur. Futures tumbled 6.6 percent last week.