Palm oil futures down

KUALA LUMPUR/SINGAPORE: Malaysian palm oil futures fell on Friday, snapping three straight sessions of gains, after an analyst forecast a swift supply increase and as top buyer India shut down a port over the weekends to contain the spread of COVID-19. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange lost 60 ringgit, or 1.5%, to 3,929 ringgit ($956.66) a tonne at the close.

The contract rose 5.7% for the week. Meanwhile on Dalian, soyaoil contract rose 2.2%, while its palm oil contract gained 2.7%.