Palm falls, tracking rival oils; set for third weekly drop

JAKARTA: Malaysian palm oil futures fell on Friday, snapping two consecutive sessions of gain, weighed down by weak rival vegetable oils prices and soft export data.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 24 ringgit, or 0.81%, to 3,927 ringgit ($833.23) a metric ton, as of 0244 GMT.

Palm oil extends gains for second session despite lower export estimates

It lost 0.43% in overnight trade and has lost 0.5% so far this week. The contract is set to post a third consecutive weekly drop.