# Palm oil posts biggest gain in six weeks on stronger rivals - Markets - Business Recorder

> Malaysian palm oil futures posted their biggest daily gain in six weeks, closing up 2.19% at 3,773 ringgit per tonne. Traders cited stronger rival oils, crude recovery and a weaker ringgit ahead of an industry conference.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/34220-palm-oil-posts-biggest-gain-in-six-weeks-on-stronger-rivals-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Gains in soyoil and crude and a weaker ringgit make palm more attractive to buyers, supporting near-term palm prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40265488

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