# Palm falls for third day on weaker rivals, higher output - Markets - Business Recorder

> Crude palm oil spot prices rose to about USD1,100 a tonne in July 2021 and have stayed near that level after falling below USD900 in June, driven by Malaysian labour shortages and weak output. Fitch expects 2021 average prices of about USD1,000 a tonne with a gradual decline from the fourth quarter.

- Date: 2021-09-28 · published 2021-09-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/45166-palm-falls-for-third-day-on-weaker-rivals-higher-output-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Fitch's outlook for falling prices from late 2021 and Malaysia's plan to admit foreign workers point to easing palm oil supply pressure. Lower palm prices could reduce costs for vegetable oil and feed fat users.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40123159

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