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Palm slips on weak rival oils, heads for steepest weekly fall in nearly two years
KUALA LUMPUR: Malaysian palm oil futures edged lower on Friday and were headed for their steepest weekly drop since December 2024, pressured by weaker rival edible oils, though firmer crude oil prices capped the losses. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 14 ringgit, or 0.32%, to 4,363 ringgit ($1,078.88) a metric ton in early trade. The contract has fallen 6.69% so far this week and is on track for a second straight weekly loss.
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