KUALA LUMPUR: Malaysian palm oil futures dropped on Thursday for a fourth consecutive session, as hopes of higher production and an extension of the Black Sea export deal raised the prospects of improved global supply.

Palm oil slides to two-week low

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange slid 17 ringgit, or 0.5%, to 3,417 ringgit ($770.46) a tonne during early trade, hovering near a two-week low hit in the previous session.