Malaysian palm oil price at more than one week low as rival soyoils fall

The benchmark palm oil futures for November rose 1.2% to RM2,594 a tonne at the close of trade. For the week it was down 1.7%, its sharpest weekly decline in more than two months.

KUALA LUMPUR: Malaysian palm oil futures dropped on Tuesday, hitting their lowest point in more than a week, weighed down by weaker performing rival soyoils on China's Dalian Commodity Exchange and the Chicago Board of Trade. 

    Palm's movement has been volatile the past week, up on stronger soyoil movements but weighed down by weaker export demand. The market fell for a second consecutive session on Tuesday at the close of trade.