# Palm oil closes lower on strong ringgit, supply-demand data in focus - Markets - Business Recorder

> Malaysian palm oil futures closed down 1.01% at 3,737 ringgit a metric ton on Monday after two sessions of gains. A stronger ringgit and traders awaiting export data and MPOB supply-demand figures, due November 10, weighed on prices.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/33741-palm-oil-closes-lower-on-strong-ringgit-supply-demand-data-in-focus-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A stronger ringgit makes palm oil more expensive for foreign buyers, and the pending MPOB data could move prices as stock levels are updated.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40270735

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