Malaysia CPO ends down on strong ringgit vs dollar

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended 1% lower due to a strong ringgit against the dollar. Firmness in the Malaysian currency makes palm oil more expensive for buyers holding other currencies. The most-active February contract of crude palm oil on the Malaysian bourse closed at 2,712 ringgits (42,373.88 rupees) per metric tonne, down 1% from the previous close. Gains in soyoil contracts on the CBOT, however, prevented a sharp fall in crude palm oil prices on the Malaysian bourse.