Palm retreats after rallying to 4-1/2-month high

SINGAPORE: Malaysian palm oil futures fell on Tuesday, as traders locked in profits after prices rallied to a 4-1/2-month high in the prior session on Russia’s attacks on Ukrainian grain warehouses.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange dipped 34 ringgit, or 0.82%, to 4,130 ringgit in early trade.

Palm oil up over news on Ukraine port attack

The contract had gained about 3.2% in the previous session, hitting its highest level since March 10.