Malaysian palm oil price declines on weaker related oils, output concerns

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 reversed early gains on Friday to close in negative territory, tracking declines in soyoil on the U.S. Chicago Board of Trade.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was down 0.3 percent at 2,257 ringgit ($552.50) a tonne at the close.