# Palm Oil Prices Jump to New Record on Dwindling Production in Malaysia - Bloomberg

> Palm oil futures for April delivery in Kuala Lumpur rose 2.6% to close at 5,322 ringgit a ton, a record high and a fifth straight weekly gain. Soybean oil also rose for a fifth session in Chicago.

- Date: 2022-01-21 · published 2022-01-21T12:00:00.000Z
- Category: market · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/43228-palm-oil-prices-jump-to-new-record-on-dwindling-production-in-malaysia-bloomberg
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight Malaysian and Indonesian supplies combined with a rally in soybean oil push vegetable oil prices higher, raising costs for feed buyers using palm and soy-based fats and meals.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2022-01-21/palm-oil-jumps-to-new-record-on-dwindling-production-in-malaysia

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