# Palm down on stronger ringgit, better Indonesia offers - Markets - Business Recorder

> Malaysian palm oil futures slid about 0.6% to 3,872 ringgit by midday on Wednesday. Aggressive Indonesian offers and a stronger ringgit pressured prices. Chicago soyoil fell 0.4% after an overnight rise on Brazil dryness concerns.

- Date: 2023-11-29 · published 2023-11-29T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/33276-palm-down-on-stronger-ringgit-better-indonesia-offers-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Competitive Indonesian supply and a firmer ringgit make palm less attractive to buyers, pressuring vegetable oil prices. Brazil weather risk to soybean yields provides partial offset through the soy complex.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40275768

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