By Liz Lee
During the session, it fell as much as 1.1 percent to 2,300 ringgit, the lowest since July 28, 2016.
Trading volumes stood at 55,823 lots of 25 tonnes each.
Sentiment has been hurt by softer rival oils and crude oil, said a trader based in Kuala Lumpur.
The Chicago July soybean oil contract bucked the trend rising 0.4 percent, after recording a 1.7 percent drop on Tuesday.
Palm oil has declined 2.1 percent so far this week and 4.7 percent this month on weak demand and outlook, alongside talk of higher output and inventories.
For June 1-10, exports of palm oil, an ingredient for soap and chocolate, slumped 20 percent from a month earlier to 324,947 tonnes, independent inspection company AmSpec Agri Malaysia said on Monday.
Weakness in the ringgit, the currency in which palm is traded, makes the tropical oil more appealing to traders holding foreign currencies. The currency was last down 0.1 percent.
(Reporting by Liz Lee; Editing by Subhranshu Sahu and Edmund Blair)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)