Palm Oil Drops Most in Six Weeks as Malaysian Output May Climb
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Palm oil fell the most in more than six weeks on speculation that production in Malaysia may expand after gaining for a sixth month in August and as weakening crude oil prices cut the appeal of vegetable oils as biofuel.
Palm for November delivery declined 2 percent to 2,351 ringgit ($719) a metric ton on the Bursa Malaysia Derivatives, the steepest drop at close for the most-active contract since July 25. Palm oil for physical delivery in September was at 2,380 ringgit, data compiled by Bloomberg show.