Malaysian palm oil price falls on stronger ringgit, higher production outlook

Malaysian palm oil futures extended gains on Thursday evening, supported by strength in soyoil markets, favourable export numbers and end of year production concerns

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday evening, charting a fourth decline in five sessions as the edible oil was weighed down by a stronger ringgit and the prospect of rising production, traders said.

The ringgit rose to its strongest level in over a year on Thursday morning. It gained as much as 0.4 percent to 4.0950 against the dollar, and was slightly up 0.1 percent at 4.1050 in the evening.