Malaysian palm oil price charts 3rd weekly loss on demand woes

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.

SINGAPORE/KUALA LUMPUR: Malaysian palm oil futures charted a third consecutive week of declines on Friday evening on concerns over demand from top buyers China and India, though prices reversed some losses to end the trading day slightly higher.

Abundant supplies in key consumers of the tropical product are expected to weigh on the market, although the downside is limited, traders said.