# Palm climbs for fourth day on weather woes, India tax fears - Markets - Business Recorder

> Malaysian palm oil futures rose more than 3% to 4,140 ringgit a tonne, their highest since September 1, and gained for a fourth straight session. Buying was driven by fears that India may raise palm oil import taxes and by heavy rains disrupting harvests and logistics in Malaysia and Indonesia.

- Date: 2022-10-19 · published 2022-10-19T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/39239-palm-climbs-for-fourth-day-on-weather-woes-india-tax-fears-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Heavy rain that curbs output and possible higher Indian import duties both tighten near-term palm supply and demand, supporting prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-10-13 | [Palm climbs for seventh day as Indonesia warns of La Nina hit - Markets - Business Recorder](https://feedsoft.ai/events/50742-palm-climbs-for-seventh-day-as-indonesia-warns-of-la-nina-hit-markets-business.md) | -2.8% | +8.6% |
| 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% |
| PALMOIL | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +10.0% | -0.2% |
| PALMOIL | 2026-10-13 | [Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder](https://feedsoft.ai/events/530-palm-climbs-to-two-week-high-as-el-nino-supply-fears-outweigh-stocks-markets.md) | -0.2% | — |
| 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% |
| 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% |
| SBO | 2021-01-04 | [Malaysian palm oil futures climb - Markets - Business Recorder](https://feedsoft.ai/events/5001-malaysian-palm-oil-futures-climb-markets-business-recorder.md) | +0.4% | +0.0% |
| SBO | 2026-10-13 | [Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder](https://feedsoft.ai/events/530-palm-climbs-to-two-week-high-as-el-nino-supply-fears-outweigh-stocks-markets.md) | -0.6% | — |

## Sources

- brecorder.com: https://www.brecorder.com/news/40203942

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