# Malaysian palm oil price posts biggest percentage fall in two weeks on ringgit strength | The Star

> Malaysian palm oil futures for January delivery fell 0.9% to 2,462 ringgit per tonne as the ringgit strengthened and traders took profits. The contract had nearly touched a 20-month high earlier in the week on supply shortage fears.

- Date: 2019-11-01 · published 2019-11-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/56154-malaysian-palm-oil-price-posts-biggest-percentage-fall-in-two-weeks-on-ringgit
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

The move is a routine price correction driven mainly by currency and profit-taking, though underlying support from dry weather, lower expected 2020 output, and biofuel demand remains intact. A firmer ringgit makes Malaysian palm oil more expensive for foreign buyers.

## Read by commodity

- USDMYR: bearish ▼
- PALMOIL: neutral

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2019/11/02/malaysian-palm-oil-price-posts-biggest-percentage-fall-in-two-weeks-on-ringgit-strength

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