# W23: Palm Oil Update

> Malaysian palm oil August futures fell about 6% to USD 694 per tonne on June 7, their third consecutive monthly decline. Weak Chinese industrial data added pressure, and Malaysia's 2023 palm oil output is forecast at 19 million tonnes, up from 18.45 million in 2022.

- Date: 2023-06-15 · published 2023-06-15T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35585-w23-palm-oil-update
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Higher Malaysian output forecasts and weak Chinese demand signals point to softer palm oil prices, which can ease costs for feed fats.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w23-palm-oil-update

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