By Emily Chow
Palm is down 3.2 percent for the week, poised for its sharpest weekly decline in five weeks.
Trading volumes stood at 14,551 lots of 25 tonnes each at the midday break.
"Palm prices may attempt to rebound after recent losses, but a recovery in rival oilseed may lend support and cushion the selling interest," said another trader.
Palm oil prices are affected by movements in rival edible oils, as they compete for a share in the global vegetable oils market.
Palm oil may test a resistance at 2,433 ringgit, as it seems to have stabilized around a support at 2,401 ringgit per tonne, said Wang Tao, a Reuters market analyst for commodities and energy technicals.
(Reporting by Emily Chow; Editing by Sherry Jacob-Phillips)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)