Malaysian palm oil price falls to 1-week low as inventories remain high

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 fell to a one-week low on Wednesday as market sentiment remained bearish over high inventory levels, before reversing its losses at the close of trade on short covering.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange closed up 0.2 percent at 2,136 ringgit ($524.82) a tonne, snapping three previous sessions of declines.