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

Malaysian palm oil futures edged lower on Friday as traders awaited industry production data for the first 20 days of the month before taking any fresh positions.

KUALA LUMPUR: Malaysian palm oil futures fell over 1 percent on Friday, recording a fifth session of declines in six, tracking weakness in soyoil on the U.S. Chicago Board of Trade (CBOT).

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was down 1.1 percent at 2,253 ringgit ($551.80) a tonne at the close of trade, its sharpest daily decline in a week.