# Palm oil market update: global price increases

> Global palm oil prices rose moderately in late October, supported by firmer competing vegetable oils and strong Malaysian export figures. Malaysian exports for October were up about 6.6% to 8.9%, depending on the surveyor, and the Vesper EU forward index edged higher.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33745-palm-oil-market-update-global-price-increases
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Rising competing oil prices and steady export demand support palm prices, though a stronger ringgit and weaker Brent crude partly offset the gains.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2023-11-01 | 1 | +2.8% | 3.1 | Strong Malaysian October export data and firmer competing vegetable oils supported demand and sentiment heading into the Nov 1 rally. |

## Sources

- vespertool.com: https://vespertool.com/news/palm-oil-market-update-global-price-increases/

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