# Palm oil extends losses on soft demand - Markets - Business Recorder

> Malaysian palm oil futures fell 1% to a two-month low of 3,624 ringgit per tonne on Jan 3 for a fourth straight session. Traders cited soft demand and weaker soybean prices, though robust Indian imports limited the decline.

- Date: 2024-01-04 · published 2024-01-04T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32232-palm-oil-extends-losses-on-soft-demand-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weak demand and cheaper competing soyoil push palm oil prices lower, reducing vegetable oil costs for feed buyers.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40281928

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