Malaysian palm oil price pares gains on less than expected output drop

Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand..

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday evening, ending the day slightly weaker after posting gains at noon, as market sentiment turned bearish on a less than expected drop in output.

The market was up earlier on the back of a weaker ringgit and overnight gains in soyoil on the U.S. Chicago Board of Trade (CBOT).