# Palm rises on stronger rival oils, crude - Markets - Business Recorder

> Malaysian palm oil futures rose about 3.9% on Tuesday to 4,006 ringgit a tonne, rebounding from a one-month low after a 10% weekly fall. Support came from stronger rival vegetable oils and crude, along with reports that Indonesia's B40 biodiesel road test is going well. Traders were also awaiting Malaysia's Nov. 1-20 output data.

- Date: 2022-11-23 · published 2022-11-23T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/38777-palm-rises-on-stronger-rival-oils-crude-markets-business-recorder
- 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)

## Why it matters

Firmer rival oils and crude plus Indonesian biodiesel progress support vegetable oil prices and add demand expectations for palm, soyoil and related oilseed products. The rebound is largely technical, so the price lift may be short-lived until production data confirm the trend.

## Read by commodity

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

## Sources

- brecorder.com: https://www.brecorder.com/news/40210314

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