Malaysian palm oil price slips over 1% on weaker demand, crude oil

Malaysian palm oil futures fell on Friday, in line for their sixth decline in seven sessions, weighed down by a stronger ringgit and expectations of rising production.

KUALA LUMPUR: Malaysian palm oil futures saw their sharpest decline in a week at the close of trade on Monday evening, on the back of weaker export demand and a fall in crude oil prices.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 1.2 percent at 2,307 ringgit ($577.33) per tonne at the end of the trading day. It had gained 0.7 percent in the previous session following eight consecutive days of falls.