# Palm oil logs second consecutive monthly rise - Markets - Business Recorder

> Malaysian palm oil futures closed higher on Wednesday, logging a second straight monthly gain on robust November exports. The February contract rose 0.45% to a high since November 11, and the ringgit's strength limited upside.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38338-palm-oil-logs-second-consecutive-monthly-rise-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Strong Malaysian exports and firmer soyoil tighten nearby palm supply and support prices. A stronger ringgit makes palm more expensive for foreign buyers, capping gains.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40211868

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