Import slowdown fears hit palm oil

SINGAPORE: Palm oil dropped to the lowest in two months on concern demand from China, the biggest consumer of edible oils, may slow even as crude oil and soybeans declined.

April-delivery futures fell 2.5 percent to 2,407 ringgit ($703) a metric ton on the Malaysia Derivatives Exchange, the lowest close since Nov 19.

China's imports of the tropical oil may reach 289,000 tons this month and decline to 176,000 tons in February, the National Grain & Oils Information Center said yesterday.