# Palm oil opens 2% lower ahead of Malaysia export estimates - Markets - Business Recorder

> Malaysian palm oil futures fell about 2% in early trade on April 30, with the July contract down 79 ringgit to 3,836 ringgit a ton. The decline followed two sessions of gains and came ahead of cargo surveyors' estimates of April Malaysian palm exports.

- Date: 2024-04-30 · published 2024-04-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30834-palm-oil-opens-2-lower-ahead-of-malaysia-export-estimates-markets-business
- 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

Weaker crude oil and softer soyoil reduce palm's appeal as biodiesel feedstock, pressuring prices lower unless export estimates show a strong tightening of supply.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-04-30 | 1 | -7.3% | -10.6 | Palm futures fell about 2% in early trade on April 30 ahead of export estimates, directly marking the day of the drop and showing weak export expectations driving sentiment. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40301062

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