KUALA LUMPUR: Malaysian palm oil futures ended lower on Tuesday after a volatile day of trade, trimming some of the previous session’s gains, on forecast for higher Indonesian output this year and demand concerns due to a surge in COVID-19 cases globally.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange ended down 19 ringgit, or 0.47%, at 4,042 ringgit ($981.07) a tonne, after rising 5% on Monday.

The Dalian exchange is closed until May 5 for holidays.