Malaysia CPO hits near two-week low on firm ringgit

The March futures contract of crude palm oil on the Bursa Malaysia Derivatives hit a near two-week low of 2,528 ringgits (40,497.92 rupees) per tn due to a strong ringgit against the dollar. A firm ringgit makes the commodity more expensive for buyers holding other currencies. The most-active March contract of crude palm oil on the Malaysian bourse settled at 2,545 ringgits per tn, down 0.9% from the previous close.