# Palm oil falls over 2% on higher global edible oils output forecast - Markets - Business Recorder

> Malaysian palm oil futures fell over 2% on July 13 to 3,835 ringgit per tonne by midday. Pressure came from forecasts of higher global edible oil output and a USDA projection of record US corn and soybean crops, with Indonesia also setting a higher CPO reference price.

- Date: 2023-07-13 · published 2023-07-13T12:00:00.000Z
- Category: report · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35140-palm-oil-falls-over-2-on-higher-global-edible-oils-output-forecast-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expectations of larger global vegetable oil supply and bigger US soybean output weigh on palm and soyoil prices. A higher Indonesian reference price makes Indonesian palm oil less competitive, which partly offsets the bearish supply signals.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-06-10 | [Palm oil falls to seven-week low on tepid June exports - Markets - Business Recorder](https://feedsoft.ai/events/10808-palm-oil-falls-to-seven-week-low-on-tepid-june-exports-markets-business-recorder.md) | -6.9% | -5.0% |
| PALMOIL | 2023-09-11 | [Palm down on rising stocks, falling exports - Markets - Business Recorder](https://feedsoft.ai/events/34221-palm-down-on-rising-stocks-falling-exports-markets-business-recorder.md) | -1.3% | -7.2% |
| PALMOIL | 2022-04-03 | [Malaysian palm oil set for weekly loss as rival soyoil drops - Markets - Business Recorder](https://feedsoft.ai/events/5915-malaysian-palm-oil-set-for-weekly-loss-as-rival-soyoil-drops-markets-business.md) | +5.8% | +22.2% |
| PALMOIL | 2021-02-18 | [Malaysia's Sime Darby Plantation eyes palm oil output recovery, high prices - The Business Times](https://feedsoft.ai/events/48726-malaysia-s-sime-darby-plantation-eyes-palm-oil-output-recovery-high-prices-the.md) | -0.4% | +8.5% |
| PALMOIL | 2022-08-20 | [Oilseeds: World Markets and Trade \|         Global Oil & Fats Business Online – gofbonline.com](https://feedsoft.ai/events/39999-oilseeds-world-markets-and-trade-global-oil-and-fats-business-online-gofbonline.md) | +0.9% | -9.4% |
| SBO | 2026-02-04 | [Palm oil tracks Dalian rivals higher - Markets - Business Recorder](https://feedsoft.ai/events/4663-palm-oil-tracks-dalian-rivals-higher-markets-business-recorder.md) | +2.6% | +11.1% |
| SBO | 2022-04-03 | [Malaysian palm oil set for weekly loss as rival soyoil drops - Markets - Business Recorder](https://feedsoft.ai/events/5915-malaysian-palm-oil-set-for-weekly-loss-as-rival-soyoil-drops-markets-business.md) | +272.9% | +265.3% |
| SBO | 2023-12-11 | [USDA experts raised forecasts for global production of edible oils and meals](https://feedsoft.ai/events/32819-usda-experts-raised-forecasts-for-global-production-of-edible-oils-and-meals.md) | -0.8% | -4.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40252349

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