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Palm oil extends losses on weaker rivals, but on track for weekly gain

  • The contract has gained 0.6% this week and is on track for its fourth weekly rise in five weeks
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Photo: Reuters
Photo: Reuters
By Reuters

KUALA LUMPUR: Malaysian palm oil futures extended losses on Friday, pressured by weaker Dalian palm olein and Chicago soyoil, although stronger crude oil prices capped the decline.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid 19 ringgit, or 0.41%, to 4,667 ringgit ($1,141.08) a metric ton in early trade.

The contract has gained 0.6% this week and is on track for its fourth weekly rise in five weeks.

Palm Oil palm oil imports

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