# Palm oil posts second consecutive annual loss - Markets - Business Recorder

> Malaysian palm oil futures settled higher on December 29 but recorded a second straight annual loss, down about 10% for 2023. Dec 1-25 exports were estimated down 4% to 16% from the prior month. A stronger ringgit and weaker crude and Dalian vegetable oils limited gains.

- Date: 2023-12-29 · published 2023-12-29T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32800-palm-oil-posts-second-consecutive-annual-loss-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker crude and softer export estimates point to subdued palm oil prices heading into 2024, reducing its appeal as a feedstock versus soyoil.

## Read by commodity

- WTI: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40281125

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