KUALA LUMPUR: Malaysian palm oil futures inched down on Friday, setting it on course for a weekly fall as it tracked losses in rival Dalian and further weighed by rising supply concerns.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 23 ringgit, or 0.64%, to 3,580 ringgit ($807.22) a tonne during early trade.

Palm jumps to near three-week peak on lower output fears

It fell for a third consecutive session to its lowest since May 5.

For the week, the contract has declined 0.58% so far.