# Malaysian palm oil price pares gains after early rise as strength in related oils eases | The Star

> Malaysian palm oil futures rose early on Wednesday on a weaker ringgit, then pared gains as related edible oils eased. The ringgit fell to its weakest level against the dollar since February 14, and palm oil exports dropped 5.7% in April.

- Date: 2018-05-02 · published 2018-05-02T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6617-malaysian-palm-oil-price-pares-gains-after-early-rise-as-strength-in-related
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

A weaker ringgit makes palm cheaper for foreign buyers, which offset some of the selling pressure. Still, weak export data limits any sustained price rise.

## Read by commodity

- USDMYR: bullish ▲
- PALMOIL: neutral

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2018/05/03/palm-pares-gains-after-early-rise-as-strength-in-related-oils-eases/

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