Palm oil declines more than 1% on weaker rivals

Malaysian palm oil futures fell more than 1% on Thursday amid lower soyoil and crude oil prices, marking its second consecutive session of decline.

The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange fell 52 ringgit, or 1.32% to 3,890 ringgit ($813.64) a metric ton as of 0236 GMT, erasing gains of 0.38% made during overnight trade.

Tags: prices, Malaysia, soyoil, palm oil, futures, benchmark contract