# Palm oil buyers switch to cheaper rival oils, hampering price recovery | Reuters

> A Kuala Lumpur-based vegetable oil trader expects palm oil to keep its price premium for at least a few months. The view rests on falling production in Indonesia and Malaysia and rising Indonesian biodiesel demand, while buyers switch to cheaper rival oils.

- Date: 2024-02-08 · published 2024-02-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/15668-palm-oil-buyers-switch-to-cheaper-rival-oils-hampering-price-recovery-reuters
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Buyers substituting toward cheaper oils limits palm oil's price recovery, though tight output and biodiesel demand keep palm oil firm relative to competing vegetable oils.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/palm-oil-buyers-switch-cheaper-rival-oils-hampering-price-recovery-2024-02-08/

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