Palm oil edges lower

KUALA LUMPUR, Nov 21 (Reuters): Malaysian palm oil futures closed lower for a second consecutive session on Thursday, as fears of US tariffs imposed on China and muted demand for palm sparked a sell-off in the vegetable oils market.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange slid 46 ringgit, or 0.96 per cent, to 4,769 ringgit ($1,069.28) a metric ton at the close.

The contract declined 2.21 per cent in the previous session.

Dalian's most active soyoil contract fell 1.41 per cent,while its palm oil contract shed 3.94 per cent.Soyoil prices on the Chicago Board of Trade were up 0.85 per cent.

Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market.