# Malaysian palm oil price slides to 16-month low on weak demand | The Star

> Malaysian palm oil futures fell 1.3% to 2,332 ringgit a tonne, touching a low not seen since August 2016. Traders blamed weak demand and expected poor May exports after Malaysia resumed its crude palm oil export tax at 5%.

- Date: 2018-05-03 · published 2018-05-03T12:00:00.000Z
- Category: trade · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/6612-malaysian-palm-oil-price-slides-to-16-month-low-on-weak-demand-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Reinstating the export tax raises Malaysian palm costs for buyers, and weak export demand leaves stocks building, which points to lower palm prices and cheaper substitute vegetable oils for feed users.

## Read by commodity

- SBO: neutral
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-05-08 | [Malaysian palm oil price eases on trade war worries, ringgit strength \| The Star](https://feedsoft.ai/events/6730-malaysian-palm-oil-price-eases-on-trade-war-worries-ringgit-strength-the-star.md) | -1.3% | +0.2% |
| PALMOIL | 2023-05-01 | [Palm oil drops to one-month low on dwindling Malaysian exports](https://feedsoft.ai/events/4382-palm-oil-drops-to-one-month-low-on-dwindling-malaysian-exports.md) | -5.2% | -7.2% |
| PALMOIL | 2019-05-06 | [Malaysian palm oil price falls for 7th day on fresh Sino-US trade tension \| The Star](https://feedsoft.ai/events/6729-malaysian-palm-oil-price-falls-for-7th-day-on-fresh-sino-us-trade-tension-the.md) | -1.1% | -0.2% |
| PALMOIL | 2020-01-28 | [Malaysian palm oil price falls 10%, biggest fall in nearly 12 years \| The Star](https://feedsoft.ai/events/55178-malaysian-palm-oil-price-falls-10-biggest-fall-in-nearly-12-years-the-star.md) | -12.8% | -13.3% |
| PALMOIL | 2021-06-14 | [Palm oil ends at over 4-month low on weaker soyoil, sliding demand - Markets - Business Recorder](https://feedsoft.ai/events/10806-palm-oil-ends-at-over-4-month-low-on-weaker-soyoil-sliding-demand-markets.md) | -3.6% | +0.1% |
| SBO | 2021-07-01 | [India’s lower import duty a boon to Malaysia’s palm oil](https://feedsoft.ai/events/45940-india-s-lower-import-duty-a-boon-to-malaysia-s-palm-oil.md) | -2.1% | +1.6% |
| SBO | 2019-08-28 | [Singapore's palm-oil plays endure a sullen month - The Business Times](https://feedsoft.ai/events/57681-singapore-s-palm-oil-plays-endure-a-sullen-month-the-business-times.md) | +2.8% | +3.7% |
| SBO | 2018-04-30 | [Vegoils: Palm falls to two-week low on weaker exports](https://feedsoft.ai/events/6614-vegoils-palm-falls-to-two-week-low-on-weaker-exports.md) | +0.4% | +3.0% |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2018/05/04/palm-slides-to-16-month-low-on-weak-demand/

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