Palm oil tumbles

KUALA LUMPUR: Malaysian palm oil futures fell 2% on Tuesday, closing at its lowest in almost two months, on worries over weakening exports ahead of cargo surveyor data.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange closed down 77 ringgit, or 2.3%, to 3,273 ringgit ($808.55) a tonne. Palm has fallen for six sessions out of seven and closed at its lowest level since Nov. 26. Dalian’s most-active soyaoil contract fell 0.1%.