Malaysian palm oil price edges down over 1% on weaker soyoil

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 1 percent at 2,191 ringgit ($537.80) a tonne at the end of the trading day. Trading volume stood at 49,614 lots of 25 tonnes each at the close of trade.

KUALA LUMPUR: Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was down 0.7 percent at 2,183 ringgit ($522.75) a tonne at the close of trade.