# Palm hits lowest in more than 2 months as Indonesia cuts export tax - Markets - Business Recorder

> Malaysian palm oil futures fell over 2% to their lowest in more than two months as traders anticipated lower shipments after Indonesia cut its export fees. Weaker soyoil and crude oil prices also weighed on the market.

- Date: 2022-06-15 · published 2022-06-15T12:00:00.000Z
- Category: market · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/15813-palm-hits-lowest-in-more-than-2-months-as-indonesia-cuts-export-tax-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of Indonesian export recovery and softer energy and soyoil prices reduce demand support for palm oil, pressuring vegetable oil and biodiesel feedstock values.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2022-06-20 | 1 | -4.7% | -3.9 | Palm oil hit a two-month low on Indonesia's export fee cut, with weaker soyoil and crude also weighing, signaling a bearish vegetable oil complex. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40180199

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