Palm set for first weekly drop in four weeks

JAKARTA: Malaysian palm oil futures were set for their first weekly drop in four as the market fell further on Friday, dragged down by weakness in Dalian and Chicago Board of Trade (CBOT) rival oils.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange lost 32 ringgit, or 0.84%, to 3,800 ringgit ($812.66) per metric ton in early trade, hitting its lowest level in more than three weeks.

Palm oil ends slightly higher after holiday

The contract has declined 5.9% so far in the week and was on track for a fifth straight session of fall.