# VEGOILS-Palm oil reverse early losses, but poor demand weighs | Kitco News

> Malaysian palm oil futures reversed early losses to close 0.26% higher at 3,430 ringgit a tonne, extending a second session of gains. Sluggish exports and poor demand from top buyer India, where rival oils are priced more competitively, limited the rise.

- Date: 2023-05-03 · published 2023-05-03T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/4386-vegoils-palm-oil-reverse-early-losses-but-poor-demand-weighs-kitco-news
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Persistent weak demand and competitive rival oils cap any rebound in palm prices despite the small intraday recovery.

## Read by commodity

- PALMOIL: neutral

## Sources

- kitco.com: https://www.kitco.com/news/off-the-wire/2023-05-03/vegoils-palm-oil-reverse-early-losses-poor-demand-weighs

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