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Malaysian palm oil futures fell on Wednesday, snapping a three-day winning streak as investors booked profits in the run-up to the long weekend for Eidul Fitr celebrations, while concerns of higher output in May also dented sentiment.
The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange settled down 1.05%, at 2,159 ringgit ($496.26), after hitting its highest in nearly a month in the previous session.
Malaysian palm oil exports rose more than expected in the period from May 1 and May 20, jumping between 11.6% and 14.2% from the previous month, cargo surveyors said.