# Palm gains for second month in a row - Markets - Business Recorder

> Malaysian palm oil futures posted a second straight monthly gain in October, rising 9.31% after an 8.02% rise in September. The benchmark January contract closed up 1.91% at 5,023 ringgit per tonne on the final day of the month. Traders said the Malaysian market remained tight on supply and that rival vegetable oils also rallied.

- Date: 2021-10-29 · published 2021-10-29T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/44663-palm-gains-for-second-month-in-a-row-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Persistent tight supply and firm rival oil prices support palm oil values, which are a key benchmark for competing feed fat and oilseed products.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40130032

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