# Palm hits one-month closing high on Indonesia supply worries - Markets - Business Recorder

> Malaysian palm oil futures rose to a one-month closing high on Wednesday, gaining 1.5% to 3,998 ringgit a tonne. The rally followed reports that Indonesia would review its palm oil export quota ratios because domestic cooking oil prices were rising. Refinitiv also pointed to expected stronger Ramadan demand in March.

- Date: 2023-02-08 · published 2023-02-08T12:00:00.000Z
- Category: trade · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/37446-palm-hits-one-month-closing-high-on-indonesia-supply-worries-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Possible tighter Indonesian export quotas remove supply from the world market and push palm prices higher. That lifts competing vegetable oils and adds cost pressure to fat and oil inputs in feed rations.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-08-19 | [Palm oil climbs to highest in over a week - Markets - Business Recorder](https://feedsoft.ai/events/51735-palm-oil-climbs-to-highest-in-over-a-week-markets-business-recorder.md) | -0.7% | +7.2% |
| PALMOIL | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +12.8% | +14.3% |
| PALMOIL | 2021-04-09 | [Palm set for 3% weekly rise on prospects of strong demand, tight supply - Markets - Business Recorder](https://feedsoft.ai/events/47701-palm-set-for-3-weekly-rise-on-prospects-of-strong-demand-tight-supply-markets.md) | -0.3% | +11.0% |
| PALMOIL | 2021-07-06 | [Palm oil rises to near 4-week peak on strong Indian demand - Markets - Business Recorder](https://feedsoft.ai/events/46161-palm-oil-rises-to-near-4-week-peak-on-strong-indian-demand-markets-business.md) | +1.4% | +6.4% |
| PALMOIL | 2024-05-31 | [Malaysian palm oil rises on export outlook - Markets - Business Recorder](https://feedsoft.ai/events/8032-malaysian-palm-oil-rises-on-export-outlook-markets-business-recorder.md) | +2.2% | +1.0% |
| SBO | 2020-08-19 | [Palm oil climbs to highest in over a week - Markets - Business Recorder](https://feedsoft.ai/events/51735-palm-oil-climbs-to-highest-in-over-a-week-markets-business-recorder.md) | +1.3% | +10.6% |
| SBO | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +2.8% | -0.7% |
| SBO | 2025-01-06 | [Palm slips on poor demand from India - Markets - Business Recorder](https://feedsoft.ai/events/6539-palm-slips-on-poor-demand-from-india-markets-business-recorder.md) | +3.7% | +12.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40225109

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