# Palm oil tumbles as crude prices fall - Markets - Business Recorder

> Malaysian palm oil futures fell about 4% on Thursday to 5,943 ringgit per tonne, erasing part of a roughly 10% gain from the prior three sessions. The drop followed weaker crude oil prices, which made palm less attractive as a biodiesel feedstock. Soyoil on the Chicago Board of Trade also fell 1.26%.

- Date: 2022-03-25 · published 2022-03-25T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6962-palm-oil-tumbles-as-crude-prices-fall-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Palm oil competes with other vegetable oils and tracks crude because of its biodiesel demand, so weaker crude pressures palm and soyoil prices. For feed buyers, lower vegetable oil prices can ease costs for oil-based feed ingredients.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2022-03-31 | 5 | -13.0% | -4.3 | Palm fell about 4% on March 24 to 5,943 ringgit, erasing part of the prior rally as weaker crude and soyoil reduced palm's biodiesel appeal; this falls inside the 5-day window. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40162895

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