Palm oil dips

KUALA LUMPUR: Malaysian palm oil futures fell in early trade on Friday, in line for their sixth decline in seven sessions, weighed down by a stronger ringgit and expectations of rising production.
Gains in the ringgit, palm´s currency of trade, usually make the edible oil more expensive for foreign buyers. The ringgit rose to its highest in about a year at 4.1580 per dollar on Friday. It was last up 0.4 percent at 4.1600 against the dollar.
The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 2,728 ringgit a tonne at the midday break. Palm was also down 2.5 percent so far this week, and set for a third straight week of falls in what would be its sharpest weekly decline in two months.