KUALA LUMPUR: Malaysian palm oil futures edged lower in thin trade on Friday, as investors continued to book profits from big gains earlier this week, with weakness in overseas soy markets and a firm ringgit also dragging.
Benchmark prices however notched a 0.8 per cent gain this week, their biggest rise since early March, lifted by anticipation of a recovery in food and fuel demand for the tropical oil.
By Friday’s close, the benchmark July contract on the Bursa Malaysia Derivatives Exchange had edged down 0.5pc to 2,635 ringgit ($814) per tonne, with prices locked between 2,623-2,653 ringgit.
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