KUALA LUMPUR: Malaysian palm oil futures fell as much as 3% on Friday and logged their biggest weekly decline in 10 months, as cargo surveyors reported a steep plunge in exports in the first half of January. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed down 102 ringgit, or 2.9%, to 3,425 ringgit ($848.82) a tonne, its lowest since Dec. 23.

It plummeted 10.6% this week, the first weekly drop in five. Dalian’s most-active soyaoil contract fell 2%, while its palm oil contract slipped 4%.