Malaysian palm oil price edges lower, down nearly 3% on the week

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was down 1.1 percent at 2,165 ringgit a tonne at the end of the trading day, its sharpest daily decline in a week. Trading volumes stood at 38,540 lots of 25 tonnes each at the close of trade.

KUALA LUMPUR: Malaysian palm oil futures edged down at the close of trade on Friday, recording a fifth session of losses in six and tracking weakness in China's Dalian Commodity Exchange, traders said.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 0.7 percent at 2,106 ringgit ($516.18) a tonne on Friday evening. It earlier fell up to 1.2 percent to 2,095 ringgit, a low since March 19.