Malaysian Palm oil futures see sharpest decline in 2 weeks on bearish data

Malaysian palm oil futures declined at their sharpest daily rate in two weeks on Thursday, snapping two sessions of gains, on bearish official data on December inventories, production and exports.   The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 0.9 per cent to 2,163 ringgit ($528.

21) a tonne at the close of trade, its biggest daily decline since December 26, and coming off a near three-week high it hit in the previous trading session.   Earlier, it fell as much as 1.5 per cent.

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