Malaysian palm oil has fallen more than 1 per cent retreating from the previous seven-month high.

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange closed down 1.2 per cent at 563 dollars a tonne, its sharpest daily fall in over a week.

Palm oil rose to a seven-month high of 2,344 ringgit but ended the week down 0.4pc after three weeks of gains.

Trading volumes stood at 24,853 lots of 25 tonnes each.