Palm Oil Extends Decline as China Builds Record Port Inventories
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Palm oil dropped to the lowest level in more than two weeks after a report that buyers in China, the largest consumer of cooking oil, built the biggest-ever stockpiles before the country tightened rules on imports.
The contract for March delivery fell 1 percent to 2,393 ringgit ($786) a metric ton on the Malaysia Derivatives Exchange, the lowest price at close for the most-active contract since Dec. 20. Prices fell for the fourth straight day.