Malaysian palm oil price drops for 7th session on demand woes, rising supplies

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.

SINGAPORE: Malaysian palm oil futures fell for a seventh consecutive session on Thursday to a three-month low, as concerns over slowing demand and rising production dragged down the market.

There was further pressure on prices as Europeans reduce consumption amid environmental concerns associated with the tropical product.