KUALA LUMPUR: Malaysian palm oil futures fell from a one-week high on Monday evening, weighed down by a stronger ringgit, which makes the tropical oil more expensive for holders of foreign currencies.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.6 per cent at 2,588 ringgit ($637.44) a tonne at the end of trading, a fourthday of losses out of five. Earlier in the session, the contract hit its strongest level since Nov 24 at 2,625 ringgit.

Traded volumes stood at 34,067 lots of 25 tonnes each on Monday evening.

`The ringgit was too strong this evening,` said a futures trader from Kuala Lumpur, explaining why the market had fallen from a one-week top. The ringgit, was trading at over one-year highs on Monday evening.-Reuters