JAKARTA, March 12 — Malaysian palm oil futures dipped again today, losing earlier gains made on rising crude oil prices.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange ended down 0.14 per cent at RM2,116 per tonne after peaking at RM2,140.

Prices of the edible oil have fallen 2 per cent in the past week on weak demand and high stockpiles in the world's second-largest producer.

Trading volumes stood at 46,573 lots of 25 tonnes each.

"The market doesn't have a clear direction, so it is going to be minimal movement,” said one Kuala Lumpur-based trader.

In related oils, the Chicago May soybean oil contract was up 0.27 per cent.

The May soyoil contract on the Dalian Commodity Exchange was down nearly 1 per cent while the May palm contract slipped 0.3 per cent.

Palm oil prices track the performances of other edible oils, as they compete for a share in the global vegetable oils market. — Reuters