# Palm falls on weakness in rival oils - Markets - Business Recorder

> Malaysian palm oil futures fell over 0.8% on Monday to 3,295 ringgit a tonne, tracking weaker Dalian and CBOT rival oils. Reports that Malaysia has no plans to extend its palm oil export tax exemption, which ends December 31, also weighed on prices.

- Date: 2020-11-30 · published 2020-11-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/50251-palm-falls-on-weakness-in-rival-oils-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower rival oil prices make palm less competitive for buyers, while ending the export tax exemption could raise Malaysian export costs. Net effect is modestly bearish for vegetable oils.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40036340

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