# Palm ends at highest since Nov on flooding woes, weaker ringgit - Markets - Business Recorder

> Malaysian palm oil futures rose to their highest close since November 8 on Thursday, gaining 2.65% to 4,293 ringgit a tonne. Flooding in Malaysia and Indonesia has disrupted crude palm oil quality and supply, and India's scrapping of its duty-free sunflower oil import quota also drew trader attention.

- Date: 2023-03-02 · published 2023-03-02T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/36952-palm-ends-at-highest-since-nov-on-flooding-woes-weaker-ringgit-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Flood-related supply disruption and a tighter sunflower oil outlook support palm oil prices, with the weaker ringgit adding to the rally. Feed buyers using palm-derived fats or meal alternatives should expect firmer vegetable oil costs.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 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) | -0.1% | +7.1% |
| PALMOIL | 2024-12-03 | [Palm oil rises on Malaysia floods, higher Indonesian export tax - Markets - Business Recorder](https://feedsoft.ai/events/27044-palm-oil-rises-on-malaysia-floods-higher-indonesian-export-tax-markets-business.md) | +3.9% | -2.2% |
| 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 | 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% |
| PALMOIL | 2021-06-02 | [Palm oil climbs 5pc, hits two-week high - Markets - Business Recorder](https://feedsoft.ai/events/6356-palm-oil-climbs-5pc-hits-two-week-high-markets-business-recorder.md) | +4.3% | -5.7% |
| 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 | 2024-12-03 | [Palm oil rises on Malaysia floods, higher Indonesian export tax - Markets - Business Recorder](https://feedsoft.ai/events/27044-palm-oil-rises-on-malaysia-floods-higher-indonesian-export-tax-markets-business.md) | +3.7% | +0.7% |
| SBO | 2021-06-02 | [Palm oil climbs 5pc, hits two-week high - Markets - Business Recorder](https://feedsoft.ai/events/6356-palm-oil-climbs-5pc-hits-two-week-high-markets-business-recorder.md) | +5.1% | -7.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40229248

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