Palm down on weaker rival oils; set to post annual loss – Markets

KUALA LUMPUR: Malaysian palm oil futures fell on Friday because of weakness in rival edible oils and gains in the ringgit, with the benchmark contract set to post a second consecutive annual loss.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange slid 42 ringgit, or 1.12%, to 3,697 ringgit ($806.32) during early trade.

The contract is set for an 11%…