# Palm oil tracks rivals lower, posts 2.8% weekly drop - Markets - Business Recorder

> Malaysian palm oil futures fell 3.86% to 3,987 ringgit on Friday, their biggest one-day drop in a month, and posted a 2.78% weekly loss. The decline followed weaker rival edible oils, lower crude oil and concerns about sluggish demand.

- Date: 2022-10-28 · published 2022-10-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39238-palm-oil-tracks-rivals-lower-posts-2-8-weekly-drop-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Palm oil moved lower with soyoil and crude, showing that weaker energy and competing vegetable oil prices are feeding into palm values. Continued sluggish demand would keep pressure on prices.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40205750
- brecorder.com: https://www.brecorder.com/news/40205778

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