# Palm falls for 2nd session on stronger ringgit but logs monthly gain - Markets - Business Recorder

> Malaysian palm oil futures fell for a second session on Monday as a stronger ringgit and the Dalian exchange holiday weighed on prices. The December contract closed at 3,998 ringgit a ton, though it gained 0.53% over September.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28394-palm-falls-for-2nd-session-on-stronger-ringgit-but-logs-monthly-gain-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Palm trading at a premium to rival oils is limiting buying interest, and the stronger ringgit makes Malaysian palm more expensive for foreign buyers, pressuring prices.

## Read by commodity

- SBO: neutral
- USDMYR: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-09-30 | 1 | +3.9% | 4.6 | Reports palm futures falling on Sept 30 on a stronger ringgit and the Dalian holiday, so it covers the same trading day, though it shows a decline and does not clearly explain the large 3.91% move. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40324752

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