# Palm falls on higher output forecast, set to snap 4 weekly gains - Markets - Business Recorder

> The Southern Peninsular Palm Oil Millers Association estimated Malaysian palm oil production for June 1-10 rose 31.7% from the previous month. Malaysian palm oil futures fell about 0.9% on June 12, on track to end a four-week winning streak. Weaker crude and rival oils also weighed on prices.

- Date: 2020-06-12 · published 2020-06-12T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/52730-palm-falls-on-higher-output-forecast-set-to-snap-4-weekly-gains-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Rising palm output adds to supply and pressures prices, especially with demand still uncertain. Lower crude prices also reduce the biodiesel appeal of palm oil.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/1003812

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