# Palm oil rises to seven-week top on weaker ringgit | The Star

> Malaysian palm oil futures rose to a seven-week high on Wednesday, extending gains into a fourth session. The gains were supported by a weaker ringgit, which fell 0.2% against the dollar to 3.9150.

- Date: 2018-02-28 · published 2018-02-28T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/10366-palm-oil-rises-to-seven-week-top-on-weaker-ringgit-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit makes palm oil cheaper for foreign buyers, supporting export demand and futures prices. The effect is a currency-driven move rather than a change in physical supply.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-04-30 | [Ringgit closes lower on volatile oil prices \| The Star](https://feedsoft.ai/events/19961-ringgit-closes-lower-on-volatile-oil-prices-the-star.md) | +0.5% | -1.1% |
| PALMOIL | 2021-09-19 | [Ringgit expected to stabilise against the dollar this week](https://feedsoft.ai/events/45320-ringgit-expected-to-stabilise-against-the-dollar-this-week.md) | +1.0% | +12.6% |
| PALMOIL | 2025-04-21 | [Ringgit soars to nearly six-month high due to weak sentiments over US assets \| The Star](https://feedsoft.ai/events/25386-ringgit-soars-to-nearly-six-month-high-due-to-weak-sentiments-over-us-assets.md) | +0.3% | -3.8% |
| PALMOIL | 2022-01-02 | [Palm oil prices to stay high as fertiliser costs limit output, says CPOPC \| The Star](https://feedsoft.ai/events/43231-palm-oil-prices-to-stay-high-as-fertiliser-costs-limit-output-says-cpopc-the.md) | +5.7% | +12.1% |
| PALMOIL | 2017-06-07 | [Malaysian ringgit to rally to eight-month high, top banker says - The Business Times](https://feedsoft.ai/events/70761-malaysian-ringgit-to-rally-to-eight-month-high-top-banker-says-the-business.md) | -2.0% | +0.6% |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2018/03/01/palm-oil-rises-to-seven-week-top-on-weaker-ringgit/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.