Malaysian palm oil price dips under pressure from weaker related edible oils

Malaysian palm oil futures edged lower on Friday as traders awaited industry production data for the first 20 days of the month before taking any fresh positions.

KUALA LUMPUR: Malaysian palm oil futures closed lower on Friday, falling for a second week, weighed down by weakness in related edible oils and crude oil.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 1,998 ringgit ($479.83) a tonne at the close.