M'sian palm oil price drops as trade conflict overrides bullish data

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 fell more than 1% by Friday's close, having touched a five-month low, as concern over the U.S.-China trade conflict outweighed data showing easing stockpiles and production.

The Benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange settled 1.1% lower on Friday evening at 1,983 ringgit ($477.03). It earlier fell to 1,970 ringgit, its weakest since Nov. 30.