# Palm oil snaps four-day rally on global demand uncertainties - Markets - Business Recorder

> Malaysian palm oil futures reversed early gains to close down 0.05% at 3,922 ringgit per tonne on Tuesday, ending a four-session rally. Traders weighed softer demand from China and heavy Indian arrivals, plus a possible Indian hike in edible oil import duties.

- Date: 2024-08-27 · published 2024-08-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28872-palm-oil-snaps-four-day-rally-on-global-demand-uncertainties-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker Chinese and Indian import demand and a possible Indian duty increase cap palm oil prices despite supportive Indonesian output estimates.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40319531

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