JAKARTA: Malaysian palm oil futures opened lower on Wednesday, tracking weaker rival edible oils at Chicago and the prospect of May's palm oil stocks rising for the third consecutive month.
The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange lost RM12, or 0.31 per cent, to RM3,922 (US$924.56) a metric ton in early trade.
Dalian's most-active soyoil contract rose 0.1 per cent, while its palm oil contract declined 0.49 per cent. Soyoil prices on the Chicago Board of Trade were down 0.66 per cent.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
