Malaysian palm oil price up more than 1% as output expected to decline

Malaysian palm oil futures fell over 1 percent on Thursday after three consecutive sessions of gains, on expectations of rising inventory levels and technical selling.

KUALA LUMPUR: Malaysian palm oil futures rose more than 1 percent on Friday to a three-week peak, supported by expectations of slowing output in Malaysia and easing stock levels in Indonesia.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange closed up 1.1 percent at 2,068 ringgit ($494) a tonne for a third consecutive session of gains. It earlier reached 2,071 ringgit, its highest level since Nov. 22.