Malaysian palm oil price charts second day of falls on weaker rival oils

Harvesting oil palm fruit bunches is a skilled job that cannot be automated and relies heavily on manual labour. Photo: Malaysian Palm Oil Council

KUALA LUMPUR: Malaysian palm oil futures fell late on Wednesday, charting a second day of declines, tracking overnight falls in U.S. soyoil on the Chicago Board of Trade (CBOT) and on a stronger ringgit.

A stronger ringgit, palm's currency of trade, typically makes the edible oil more expensive for holders of foreign currencies. The ringgit strengthened 0.6 percent against the dollar to 3.9140 in late trading, its sharpest daily gain in nearly three weeks.