# Palm oil down for second day - Markets - Business Recorder

> Malaysian palm oil futures fell for a second straight session, losing 4.8% over the period, and the July contract closed down 1.7% at 3,869 ringgit per tonne. Traders said cheaper rival vegetable oils weighed on prices, along with worries about lower Indian demand amid a COVID-19 surge.

- Date: 2021-04-30 · published 2021-04-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/47696-palm-oil-down-for-second-day-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker palm and soy oil prices reduce the cost of vegetable oil inputs for feed blenders, while concern over Indian demand signals softer import interest in the near term.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-05-02 | 1 | +4.1% | 3.1 | Palm futures fell for a second day on 30 April on cheaper rival oils and weaker Indian demand; this sets up a sharp rebound or volatility into the 2 May move, but its direction is opposite. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40089336

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