Asia Biofuels Update: Palm Oil Falls; Futures Head for Weekly Loss
() -- Malaysian palm oil futures dropped further on Friday, bringing weekly losses to about 1.8%, pressured by weaker rival oils on the Dalian exchange and a firmer currency that erodes export competitiveness. The Bursa Malaysia Derivatives' August crude palm oil contract dipped 0.40% to 4,460 Malaysian ringgit ($1,097