Palm opens lower on weaker rivals, crude oil prices

KUALA LUMPUR: Malaysian palm oil futures opened lower on Monday for the sixth consecutive session, weighed down by weaker rival edible oils and crude oil prices, while traders also awaited cargo surveyors’ export estimates.

Palm trades higher, but on track for third weekly loss

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 26 ringgit, or 0.65%, to 3,949 ringgit ($898.93) a metric ton in early trade.