KUALA LUMPUR Palm oil prices declined to the lowest level in almost two weeks, heading for a fourth quarterly loss, on concern that demand will slow as Europe's debt crisis lingers, swelling inventories in producing countries.
Palm oil prices have tumbled 31% over the past year as supplies from Indonesia and Malaysia, the largest producers, expanded to a record and demand fell in Europe. Stockpiles in Malaysia reached an all-time high in December.
The contract for June delivery fell 0.8% to 2,392 ringgit ($774) a tonne on the Malaysia Derivatives Exchange, the lowest most-active price since March 18 and down down 1.8% for the quarter.
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