# Palm posts biggest jump in two months after crude oil rally - Markets - Business Recorder

> Malaysian palm oil futures rose more than 3% on April 3 to 3,885 ringgit per tonne, their biggest gain in two months. The rally followed a surprise OPEC+ output cut that lifted crude oil prices.

- Date: 2023-04-03 · published 2023-04-03T12:00:00.000Z
- Category: macro · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/36512-palm-posts-biggest-jump-in-two-months-after-crude-oil-rally-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher crude makes palm more attractive as biodiesel feedstock, so energy-driven buying lifts vegetable oil prices. Soyoil also rose on Chicago and Dalian exchanges, reflecting the same energy link.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-03-08 | [VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters](https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by.md) | +6.6% | -1.7% |
| PALMOIL | 2021-02-15 | [VEGOILS-Palm reverses losses, up 2% on crude oil jump By Reuters](https://feedsoft.ai/events/48725-vegoils-palm-reverses-losses-up-2-on-crude-oil-jump-by-reuters.md) | +3.3% | +14.7% |
| PALMOIL | 2026-06-18 | [China's yuan weakens to one-week low on strong dollar, Fed hike bets weigh - Markets - Business Recorder](https://feedsoft.ai/events/8413-china-s-yuan-weakens-to-one-week-low-on-strong-dollar-fed-hike-bets-weigh.md) | -0.2% | +0.0% |
| PALMOIL | 2017-06-07 | [Malaysian ringgit to rally to eight-month high, top banker says - The Business Times](https://feedsoft.ai/events/70761-malaysian-ringgit-to-rally-to-eight-month-high-top-banker-says-the-business.md) | -2.0% | +0.6% |
| PALMOIL | 2016-11-15 | [Emerging markets' currency slump to help soft commodities, with palm oil the top pick: Analyst](https://feedsoft.ai/events/73941-emerging-markets-currency-slump-to-help-soft-commodities-with-palm-oil-the-top.md) | -0.1% | +5.8% |
| SBO | 2021-03-08 | [VEGOILS-Palm oil rises nearly 4% to two-month high as crude, soyoil rally By Reuters](https://feedsoft.ai/events/6562-vegoils-palm-oil-rises-nearly-4-to-two-month-high-as-crude-soyoil-rally-by.md) | +9.1% | +10.7% |
| SBO | 2021-02-15 | [VEGOILS-Palm reverses losses, up 2% on crude oil jump By Reuters](https://feedsoft.ai/events/48725-vegoils-palm-reverses-losses-up-2-on-crude-oil-jump-by-reuters.md) | +2.0% | +19.5% |
| SBO | 2020-03-13 | [Crude oil sell-offs see prices for palm oil decline \| Analysis & Features \| The Grocer](https://feedsoft.ai/events/54237-crude-oil-sell-offs-see-prices-for-palm-oil-decline-analysis-and-features-the.md) | -2.6% | +4.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40235160

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