KUALA LUMPUR, Oct 21: Malaysian crude palm oil futures fell 1 per cent on Friday, extending their losses, as weak prices of US soyaoil hit a market weighed down a day earlier by disappointing export numbers.
The benchmark third-month January crude palm oil contract on Bursa Malaysia Derivatives closed down 16 ringgit at 1,418 ringgit ($376.12) a ton. Its intraday low was 1,417.
Dealers said the contract was likely to trade in the 1,410-1,440 ringgit band in the week ahead.
Prices of physical crude palm oil were also down on Friday, following the trend in futures. Offers for October delivery were priced at at 1,427.50 ringgit, against bids of 1,422.50. Offers/bids stood at 1,440/1,435 on Thursday.
Trades were reported at 1,430-1,422.50 ringgit. —Reuters
