Malaysian palm oil price reverses gains to fall 1% from over 1-week peak

Malaysian palm oil futures reversed losses in its second half of trade on Thursday, rising to a one-week peak as sentiment turned bullish on higher price forecasts from an industry conference.

KUALA LUMPUR: Malaysian palm oil futures reversed earlier gains to fall over 1 percent in evening trade on Tuesday, as output declines remained slower than in previous years and stocks in key buying markets stayed high.

Palm had earlier gained as much as 1.1 percent, hitting its highest in over a week as it tracked strength in U.S. soyoil prices and a weaker ringgit.