Malaysian palm oil price on track for steepest monthly decline in nearly 2 years

Malaysian palm oil futures edged higher on Friday after a run of losses, supported by a weaker ringgit and short covering, although they still marked a second straight weekly loss.

KUALA LUMPUR: Malaysian palm oil futures closed slightly lower on Tuesday evening on the back of slow export demand, erasing gains earlier in the day when prices were tracking stronger performing soy.

    Palm oil output is also forecast to rise in line with the seasonal growing trend from now until the end of the year, contributing to palm's bearish outlook.