Palm posts second weekly fall on demand worries, despite rising exports

Malaysian palm oil futures rose on Friday on gains in rival edible oils and improving February exports, although worries over Chinese demand due to the coronavirus outbreak led the commodity to its second straight weekly loss.

The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed up 32 ringgit, or 1.23%, at a settlement price of 2,622 ringgit ($626.25).

But palm oil lost 1.4 per cent this week as the epidemic in No. 2 buyer China disrupted economic activity.

Demand concerns were, however, eased by an improvement in exports, with surveyors reporting that Malaysia's Feb. 1-20 exports increased