Malaysian palm oil price slides on overnight soyoil losses

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 charted a third session of loses in four on Thursday evening, tracking weakness in overnight U.S. soyoil prices and on forecasts of slower-than-expected declines in output.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was down 0.6 percent at 2,157 ringgit ($521.77) a tonne at the close of trade, after earlier rising to a three-day top of 2,179 ringgit.