Malaysian palm oil price retreats over 1% on weak CBOT soyoil

Malaysian palm oil futures recouped earlier losses to rise 1 percent on Friday, tracking strength in crude oil prices.

KUALA LUMPUR: Malaysian palm oil futures fell over 1 percent on Tuesday, retreating from the previous session's sharp gains on weakness in Chicago soyoil and overnight crude oil.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange opened steady at 2,327 ringgit and was down 1.2 percent at 2,300 ringgit ($559.47) a tonne by the midday break.