Malaysian palm oil price retreats from 7-month highs on stronger ringgit

At Monday's close, the benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 3.9 percent at 1,965 ringgit ($469.42) a tonne. That was its biggest one-day dip since Feb. 16 last year. Traded volumes stood at 53,531 lots of 25 tonnes each.

KUALA LUMPUR: Malaysian palm oil futures fell more than 1 percent on Friday, retreating from the previous session's seven-month high, hindered by a stronger ringgit and losses in U.S. soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange closed down 1.2 percent at 2,290 ringgit ($563.07) a tonne, its sharpest daily fall in over a week.

Palm rose to a seven-month high of 2,344 ringgit on Thursday but ended the week down 0.4 percent after three weeks of gains.

Trading volumes stood at 24,853 lots of 25 tonnes each.