Malaysian palm oil gave up its early gains on Thursday, declining towards the end of the trading day as rallies of rival vegetable oils on China's Dalian Commodity Exchange slowed and palm export demand weakened
KUALA LUMPUR: Malaysian palm oil edged down on Friday after a rebound in the previous session, tracking vegetable oil futures on the Dalian Commodity Exchange, which reopened after the Lunar New Year holidays.
Benchmark palm oil futures for April delivery on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to 3,065 ringgit ($692.89) per tonne in the first-half session. The contract gained 1.4 percent on Thursday, helped by data showing improved exports and a drop in production, snapping four straight sessions of losses.
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