# Palm slumps nearly 7% on weaker rival oils - Markets - Business Recorder

> Malaysian palm oil futures fell nearly 7% early on Monday to 3,480 ringgit per tonne, extending losses to a third session. The drop followed weakness in rival edible oils amid recession fears and a leading analyst's forecast of a more than 30% fall by year-end.

- Date: 2022-09-26 · published 2022-09-26T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39677-palm-slumps-nearly-7-on-weaker-rival-oils-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weakness in rival oils and a bearish outlook reinforce downward pressure on palm oil prices, lowering costs for vegetable oil ingredients used in feed.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2022-09-26 | 1 | -4.4% | -3.5 | Palm oil fell nearly 7% on the same Monday on recession fears and weak rival oils; palm is the main substitute vegetable oil, so the weakness spilled over to soybean oil. |
| PALMOIL | 2022-10-02 | 1 | -8.9% | -5.9 | Palm fell nearly 7% on Sept 26 on weak rival oils, recession fears and a bearish analyst forecast, contributing to the same selloff. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40199661

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