KUALA LUMPUR (Dec 30): Asian palm oil prices slip on profit taking, although the market is likely to trend upward, says a Kuala Lumpur-based trader. 

Palm oil prices hit fresh two-year highs in previous trading sessions due to tight supply, which could indicate that the drop is because some traders are booking profit before the end of the year, he adds. 

The benchmark contract for March delivery on the Bursa Malaysia Derivatives Exchange falls RM15 to RM3,058 per metric ton.