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Palm opens over 2% lower on weaker crude and Chicago soyoil, set for weekly loss

  • The contract has fallen 3.1% so far this week after rising 1.74% in the previous week
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By Reuters

KUALA LUMPUR: Malaysian palm oil futures opened more than 2% lower on Friday and were on track for a weekly loss, as softer Chicago soyoil and crude oil prices pressured the market.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange slid 98 ringgit, or 2.05%, to 4,674 ringgit ($1,147.56) a metric ton in early trade.

The contract has fallen 3.1% so far this week after rising 1.74% in the previous week.

Palm Oil palm oil prices

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