Malaysian palm oil price hits 2-week high on expectations of falling stocks

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.

KUALA LUMPUR: Malaysian palm oil futures  rose to a two-week high during trade on Wednesday, posting a third straight day of gains, on expectations of easing stockpiles and tracking strength in soyoil on the U.S. Chicago Board of Trade (CBOT).

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was up 1 percent at 2,175 ringgit ($533.48) a tonne at the end of the trading day.