# Palm extends gains on supply shortage ahead of Eid holiday - Markets - Business Recorder

> Malaysian palm oil futures closed higher for a third session on April 3, with the June contract up 89 ringgit to 4,401 ringgit a ton, its highest in 13 weeks. Gains were attributed to hot weather, lower yields and a Ramadan-related production slowdown ahead of Eid.

- Date: 2024-04-03 · published 2024-04-03T12:00:00.000Z
- Category: weather · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/30837-palm-extends-gains-on-supply-shortage-ahead-of-eid-holiday-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower yields and seasonal production slowdowns tighten near-term palm supply, supporting prices into the Eid period.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-01-21 | [Palm ends two-day decline as floods raise supply worries - Markets - Business Recorder](https://feedsoft.ai/events/49236-palm-ends-two-day-decline-as-floods-raise-supply-worries-markets-business.md) | +0.8% | -0.1% |
| PALMOIL | 2021-10-25 | [Palm rebounds on tight supply concerns, rival oil strength - Markets - Business Recorder](https://feedsoft.ai/events/44664-palm-rebounds-on-tight-supply-concerns-rival-oil-strength-markets-business.md) | +0.3% | +1.2% |
| PALMOIL | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | +0.4% | +4.5% |
| PALMOIL | 2020-07-21 | [Palm oil bounces back, hovers near 5-month high on supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/52202-palm-oil-bounces-back-hovers-near-5-month-high-on-supply-concerns-markets.md) | +0.4% | +8.7% |
| PALMOIL | 2020-10-23 | [Palm oil flat, logs 2pc weekly rise on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/50739-palm-oil-flat-logs-2pc-weekly-rise-on-supply-worries-markets-business-recorder.md) | +0.7% | +14.3% |
| SBO | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | -6.7% | -3.6% |
| SBO | 2023-06-02 | [Palm ends 3% higher on stronger rivals, El Nino worries - Markets - Business Recorder](https://feedsoft.ai/events/7324-palm-ends-3-higher-on-stronger-rivals-el-nino-worries-markets-business-recorder.md) | +5.0% | +20.5% |
| SBO | 2024-04-22 | [Malaysian palm oil up - Markets - Business Recorder](https://feedsoft.ai/events/15656-malaysian-palm-oil-up-markets-business-recorder.md) | +0.6% | +2.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40297052

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