# Palm oil slumps to over 6-month low - Markets - Business Recorder

> Malaysian palm oil futures fell more than 3% to their lowest close in over six months, with the July contract at 3,455 ringgit a tonne. The drop followed Indonesia's decision to lower its domestic sales threshold and allow more product into the global market, and the contract ended lower for a fifth straight session.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/4387-palm-oil-slumps-to-over-6-month-low-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

More Indonesian export availability, combined with slow exports and palm's price disadvantage to soyoil, is adding bearish pressure to global vegetable oil prices.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2023-04-30 | 1 | -11.4% | -13.4 | Futures fell to a six-month low for a fifth straight session after Indonesia allowed more product into the global market, reflecting supply-driven selling pressure. |
| PALMOIL | 2023-05-01 | 1 | -11.4% | -12.3 | Indonesia's lower domestic sales threshold lets more palm into the global market, driving a fifth straight lower session and a six-month low just before the move. |
| SBO | 2023-05-01 | 1 | -3.0% | -3.0 | Palm oil slumped to a six-month low on Indonesia's policy change, a fifth straight lower session, spilling over to soyoil through oil-to-oil substitution. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-06-14 | [Palm extends fall to hit over 4-month low on cheaper US soyoil - Markets - Business Recorder](https://feedsoft.ai/events/10807-palm-extends-fall-to-hit-over-4-month-low-on-cheaper-us-soyoil-markets-business.md) | -3.6% | +0.1% |
| PALMOIL | 2023-04-28 | [Palm oil logs sharpest monthly loss in seven months - Markets - Business Recorder](https://feedsoft.ai/events/4381-palm-oil-logs-sharpest-monthly-loss-in-seven-months-markets-business-recorder.md) | -9.7% | -7.7% |
| PALMOIL | 2022-06-10 | [Palm flops to two-month closing low as Indonesia eases export rules - Markets - Business Recorder](https://feedsoft.ai/events/41051-palm-flops-to-two-month-closing-low-as-indonesia-eases-export-rules-markets.md) | -6.3% | -32.4% |
| PALMOIL | 2023-06-22 | [Palm extends losses over soybean oil and lower US biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/35581-palm-extends-losses-over-soybean-oil-and-lower-us-biofuel-mandate-markets.md) | +0.5% | +13.6% |
| PALMOIL | 2025-09-23 | [Palm oil drops 3% as Argentina lifts soyoil export tax - Markets - Business Recorder](https://feedsoft.ai/events/22951-palm-oil-drops-3-as-argentina-lifts-soyoil-export-tax-markets-business-recorder.md) | -0.4% | +0.9% |
| SBO | 2021-08-25 | [Palm oil falls - Markets - Business Recorder](https://feedsoft.ai/events/45655-palm-oil-falls-markets-business-recorder.md) | -1.4% | -5.7% |
| SBO | 2021-06-14 | [Palm extends fall to hit over 4-month low on cheaper US soyoil - Markets - Business Recorder](https://feedsoft.ai/events/10807-palm-extends-fall-to-hit-over-4-month-low-on-cheaper-us-soyoil-markets-business.md) | -10.4% | -11.7% |
| SBO | 2023-04-28 | [Palm oil logs sharpest monthly loss in seven months - Markets - Business Recorder](https://feedsoft.ai/events/4381-palm-oil-logs-sharpest-monthly-loss-in-seven-months-markets-business-recorder.md) | -1.7% | -8.4% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40239273

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