Malaysian palm oil price declines for 2nd day on rising output

Malaysian palm oil futures fell to their lowest in nearly three years on Friday evening in a fourth session of losses, tracking declines in related edible oils.

KUALA LUMPUR: Malaysian palm oil futures were down on Friday evening after official data release showed a rise in production, though losses were capped as the gain in stockpiles was below market expectations.

Industry regulator the Malaysian Palm Oil Board (MPOB) reported a 1.3 percent monthly rise in July inventory levels to 2.21 million tonnes.