KUALA LUMPUR: Malaysian palm oil futures ticked down on Friday as traders factored in larger supply from top producer Indonesia, setting the contract on course for a second monthly decline.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange eased 2 ringgit, or 0.06%, to 3,453 ringgit ($774.91) a tonne during early trade.

Palm oil slumps to over 6-month low

The contract fell for a sixth straight session to hit its lowest since Oct. 4.

For the month, palm is on course for an 8.1% decline.