The April futures contract of crude palm oil on the Bursa Malaysia Derivatives hit a three-week low of 2,471 ringgits per tn earlier, tracking soyoil prices on the CBOT. Prices of crude palm oil and soyoil typically move in tandem as both are used as substitutes for each other. The most-active April contract of the crude palm oil on the Malaysian bourse settled at 2,485 ringgits (40,116.11 rupees) per tn, down 1.3% from previous clos. The European Parliament is set to vote today on an amendment to a draft law on renewable energy that calls for a ban on the use of palm oil in biofuels from 2021, which is also seen weighing on crude palm oil prices.