# Palm logs fifth monthly drop on oversupply concerns - Markets - Business Recorder

> Malaysian palm oil futures rose 2.27% on Friday, tracking gains in soyoil and crude, but the benchmark December contract still posted a fifth straight monthly decline. The contract fell about 17.5% in September on oversupply and weakening demand concerns.

- Date: 2022-09-30 · published 2022-09-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39672-palm-logs-fifth-monthly-drop-on-oversupply-concerns-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 is a substitute for soyoil and feeds into biofuel demand, so the monthly slump points to cheaper vegetable oil supply for feed and food users, while a crude rebound offers short-term support.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40200582
- brecorder.com: https://www.brecorder.com/news/40200627

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