Malaysian palm oil price rises on stronger soyoil, tight market supplies


Malaysian palm oil futures fell on Friday, ending a four-day winning streak, as soyoil's weak performance on the Chicago Board of Trade (CBOT) weighed.

KUALA LUMPUR: Malaysian palm oil futures scored their first gain in four sessions on Thursday, tracking stronger edible oils and lifted by tighter supplies, traders said.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 0.8 percent to 2,658 ringgit, having reversed a prior-day loss when it fell to a low of 2,608  ringgit, its weakest since Aug. 8.The market however is down 0.9 percent so far on a weekly basis.

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