Malaysian palm oil price hits lowest levels since year began

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 declined for a fourth day on Wednesday, falling to their weakest levels since the start of the year on expectations of weaker demand, a stronger ringgit currency and weaker related edible oils.

Gains in the ringgit, palm's currency of trade, usually make the edible oil more expensive for foreign buyers. The ringgit was last up 0.1 percent against the dollar at 4.0640 and are trading at its strongest levels in about six months.