# Palm oil falls tracking rival oils, logs 1.5% weekly climb - Markets - Business Recorder

> Malaysian palm oil futures fell more than 1% on August 27, tracking weaker Dalian and Chicago soyoil, but still logged a 1.5% weekly gain on concerns about tight global edible oil supplies. Indonesia raised its September export tax to $166 per tonne from $93, a move widely expected. The EPA has reportedly recommended retroactively lowering 2020 biofuel blending mandates.

- Date: 2021-08-27 · published 2021-08-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/45442-palm-oil-falls-tracking-rival-oils-logs-1-5-weekly-climb-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Soyoil weakness and profit-taking pressured palm prices, while tight global edible oil supply and the possible US biofuel mandate change provide offsetting support. The net price signal is mixed.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40116182

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