Palm Oil Ends Little Changed After Malaysia Sets Zero Export Tax
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Palm oil ended little changed near the lowest level in three weeks after Malaysia, the second-largest producer, said it will allow duty-free exports of the crude variety for a second month in February to boost shipments.
The contract for delivery in March closed at 2,370 ringgit ($786) a metric ton on the Malaysia Derivatives Exchange in Kuala Lumpur, after rising as much as 1.4 percent. Futures fell 4 percent last week to end at 2,368 ringgit, the lowest price at close since Dec. 20.