KUALA LUMPUR, Dec 1: Malaysian crude palm oil futures closed down 2.7pc on Friday as the ringgit currency strengthened against the dollar and prices of rival soyoil declined.

The benchmark February contract on the Bursa Malaysia Derivative exchange finished down 52 ringgit at 1,888 ringgit ($525.9) a ton.

Most other traded months closed down between 49 and 52 ringgit. Overall volume stood at 13,863 lots of 25 tons each.

Malaysian crude palm oil futures closed up 2.7pc on Thursday as better-than-expected export data announced by cargo surveyors prompted speculative buying.

The Malaysian ringgit firmed against the dollar, in line with other Asian currencies, making palm oil exports costlier.

In the physical palm oil market, December shipment for the southern region was quoted at 1,860/1,870 ringgit a ton.

Trades were done between 1,860 and 1,875 ringgit. Exports of Malaysian palm products for November fell 5pc to 1,359,790 tons from 1,430,900 tons in Oct, cargo surveyor Societe Generale de Surveillance said. —Reuters