# Palm falls for second day on forecasts of higher output, stockpiles - Markets - Business Recorder

> Malaysian palm oil futures for August delivery fell 2.13% to 4,041 ringgit a tonne, after dropping as much as 5% intraday. Traders expected May stockpiles and output to rise, with a Reuters survey pointing to an eight-month high in end-May stocks. Market talk of an Indonesian export levy cut also weighed, though authorities said no decision had been made.

- Date: 2021-06-08 · published 2021-06-08T12:00:00.000Z
- Category: policy · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/10809-palm-falls-for-second-day-on-forecasts-of-higher-output-stockpiles-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Higher expected output and stockpiles add supply pressure, and a possible Indonesian levy cut would lift export flows and could add to downward pressure. Traders are awaiting the MPOB data.

## Read by commodity

- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-06-13 | 5 | -10.6% | -3.6 | On June 8 palm fell on expectations of higher May output and stocks and on talk of an Indonesian levy cut, bearish supply-side factors early in the window. |
| PALMOIL | 2021-06-14 | 5 | -11.7% | -3.3 | On June 8 palm fell 2.1% on expectations of higher May output and stocks plus talk of an Indonesian levy cut, adding supply-side pressure within the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-06-29 | [Palm falls on likely higher output, lower demand - Markets - Business Recorder](https://feedsoft.ai/events/6219-palm-falls-on-likely-higher-output-lower-demand-markets-business-recorder.md) | -26.1% | -29.7% |
| PALMOIL | 2022-07-07 | [Palm falls for fifth day on recession woes, Indonesia’s export rules - Markets - Business Recorder](https://feedsoft.ai/events/4991-palm-falls-for-fifth-day-on-recession-woes-indonesia-s-export-rules-markets.md) | -4.4% | -6.4% |
| PALMOIL | 2022-08-02 | [Palm drops 5% for second day as Indonesia cuts reference price - Markets - Business Recorder](https://feedsoft.ai/events/40139-palm-drops-5-for-second-day-as-indonesia-cuts-reference-price-markets-business.md) | -1.3% | +0.7% |
| PALMOIL | 2021-02-02 | [Palm oil falls nearly 2% on weak Jan exports, higher Indian tax - Markets - Business Recorder](https://feedsoft.ai/events/48724-palm-oil-falls-nearly-2-on-weak-jan-exports-higher-indian-tax-markets-business.md) | -3.3% | +4.3% |
| PALMOIL | 2022-04-01 | [Palm falls 3pc as India extends stock limit - Markets - Business Recorder](https://feedsoft.ai/events/5914-palm-falls-3pc-as-india-extends-stock-limit-markets-business-recorder.md) | -8.9% | -1.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40098619

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