# Palm oil set for second weekly loss on poor demand, weak rivals - Markets - Business Recorder

> Malaysian palm oil futures fell to their lowest since October on December 1, heading for a second weekly loss. Exports for November were estimated up 2% to 11% from October. Analysts cited a lack of fresh buying from key destinations and higher stocks, and OPEC+ voluntary crude cuts that fell short of expectations.

- Date: 2023-12-01 · published 2023-12-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/32804-palm-oil-set-for-second-weekly-loss-on-poor-demand-weak-rivals-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak import demand and higher stocks weigh on palm prices, and weaker crude reduces palm's attractiveness as biodiesel feedstock.

## Read by commodity

- WTI: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40276172

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