Malaysian palm oil price eases from near-7-month peak on stronger ringgit

RAM also said the increase in Indian import duties on rival soybean oil in June 2018 was also expected to reverse the downtrend in palm oil exports for Malaysia and Indonesia.

KUALA LUMPUR: Malaysian palm oil futures on Friday rose to its highest in nearly seven months before giving up gains as a stronger ringgit weighed on the market.

    The benchmark palm oil contract for April delivery was down 0.1 percent at 2,294 ringgit ($556.46) a tonne at the close of trade on the Bursa Malaysia Derivatives Exchange, snapping five days of gains.