Palm oil set for worst week in 11 months on weak demand concerns

At midday, CPO for third month futures fell RM47 to RM3,480.

KUALA LUMPUR: Palm oil futures are headed for their steepest weekly drop in 11 months on concerns that demand from key buyers will dissipate as Malaysia reported a slump in export data.

Prices in Kuala Lumpur are down 9.1% so far this week, the most since the week ending Feb. 28. Palm, used in everything from cookies to cosmetics and biofuel, plummeted 4.5% on Thursday and briefly climbed early Friday, before reversing