# Palm oil clocks near 3pc weekly loss - Markets - Business Recorder

> Malaysian palm oil futures closed down 1.54% on November 26, 2021, to 4,851 ringgit per tonne, logging a weekly loss of 2.74%. Exports for November 1-25 rose between 4.5% and 10.9% from October. Oil prices posted their steepest daily fall since July after a new COVID-19 variant emerged.

- Date: 2021-11-27 · published 2021-11-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/5262-palm-oil-clocks-near-3pc-weekly-loss-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weak crude and a Dalian slump dragged palm lower, while a forecast of stronger production next year adds bearish pressure. Solid export growth offers some support to prices.

## Read by commodity

- WTI: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-12-02 | 5 | -8.9% | -3.3 | Palm fell 1.54% on Nov 26 with weekly loss as new COVID variant triggered the steepest oil price drop since July. |
| PALMOIL | 2021-12-01 | 5 | -7.5% | -2.8 | Palm fell 1.54% on Nov 26 and lost 2.74% for the week as crude had its steepest daily fall since July on the new variant, which started the decline inside the 5-day window. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40136167

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