Malaysian palm oil price pares gains on concerns of rising output, weaker exports

Plantation, property units to declare payouts of 50% and 20% respectively

KUALA LUMPUR: Malaysian palm oil futures climbed to a one-week high in early trade on Thursday before paring gains later on concerns of rising output and weakening exports.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was up 0.2 percent at 2,720 ringgit ($643.48) a tonne at the close.