# International trade: Relentless pressure on vegetable oil export

> A weekly palm oil update says Malaysian August futures fell nearly 6% to USD 694 a tonne on June 7 amid weak Chinese industrial data. Malaysian end-May inventories are expected to rise 6.8% to 1.6 million tonnes, the highest since December, and MPOB sees Malaysian output possibly falling 1-3 million tonnes in 2024 due to El Niño.

- Date: 2023-06-15 · published 2023-06-15T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35584-international-trade-relentless-pressure-on-vegetable-oil-export
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Higher stocks and a weak Chinese demand outlook pressure palm prices now, while the forecast 2024 El Niño output loss supports prices later. The mix of near-term bearish and longer-term bullish factors keeps the outlook mixed.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- pwc.com: https://www.pwc.com/id/en/pwc-publications/industries-publications/consumer-and-industrial-products-and-services/plantation-highlights/june-2023/international-trade-relentless-pressure-on-vegetable-oil-export.html

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