# Palm oil extends losing streak - Markets - Business Recorder

> Malaysian palm oil futures fell for a fifth day on June 30, closing down 1.84% at 2,298 ringgit per tonne, the lowest close since June 2. Malaysia's June palm oil exports rose 29% from May, and analysts expect July exports to fall 20-30% from June. Rumours of an Indian import tariff increase also weighed on sentiment.

- Date: 2020-06-30 · published 2020-06-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52726-palm-oil-extends-losing-streak-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expected softer July exports and a possible Indian tariff hike would reduce demand for Malaysian palm oil, supporting a bearish price view. Soyoil weakness in Chicago also limits upside.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40002059

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