Palm Oil Declines to Two-Week Low After Malaysia Sets Export Tax
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Palm oil fell to the lowest level in more than two weeks after Malaysia, the second-largest producer, said that exports in March will be taxed for the first time in three months.
The contract for April delivery dropped 0.4 percent to 2,486 ringgit ($804) a metric ton on the Malaysia Derivatives Exchange, the lowest price at close for most active futures since Jan. 29. Futures declined 2.9 percent this week, the first weekly loss in five.