# Palm oil little changed as forecast of strong supply weighs - Markets - Business Recorder

> Malaysian palm oil futures were virtually unchanged on June 7, closing 2 ringgit higher at 3,318 ringgit a tonne. Reuters survey data showed Malaysian end-May inventories expected to rise 6.8% to 1.6 million tonnes as output reaches its highest this year.

- Date: 2023-06-07 · published 2023-06-07T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35582-palm-oil-little-changed-as-forecast-of-strong-supply-weighs-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Rising Malaysian production and stockpiles weigh on palm oil prices, as seasonal output gains and recovering labour supply add to supply. Looming El Niño dryness is a potential future support but has not yet changed near-term balances.

## Read by commodity

- PALMOIL: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40246459

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