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Palm oil declines amid strong soybean harvest, ringgit gains

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Photo: Reuters
Photo: Reuters
By Reuters
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SINGAPORE: Malaysian palm oil futures fell on Friday after two consecutive sessions of gains, weighed down by a strong soybean harvest and gains in the ringgit.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange fell 49 ringgit, or 1.1%, to 3,722 ringgit ($779.97) a metric ton in morning trade.

Palm oil climbs on stronger rival oils, weaker ringgit

The contract is set to post weekly losses of around 1.2%, following two consecutive weeks of gains.

Palm Oil

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