Malaysian palm oil futures fell for a fifth consecutive session on Wednesday, dragged down by surprise signs of improved output and weak export demand.
The palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange fell 1.2 percent to 2,520 ringgit ($597.86) per tonne at the end of the trading day. It earlier hit an intraday low of 2,517 ringgit, the lowest in three weeks.
Traded volume stood at 49,485 lots of 25 tonnes each.
"The downside was triggered by production improvement and poor exports, coupled with weaker overseas market," said a trader based in Kuala Lumpur.
"The ringgit weakness had added support, but the anticipation of lower exports capped the upside."
Data from the Southern Palm Oil Millers' Association on Tuesday showed an unexpected 2.6 percent rise in output between Feb.1 and Feb. 20 compared with the same period in January.
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