# Palm oil futures hit all-time high as China rushes to fill soy oil shortage | S&P Global

> Malaysian palm oil futures reached a new all-time high on September 30 as Chinese buyers rushed to book shipments. Chinese soybean crushers had slowed or suspended operations due to power outages, with an estimated loss of 160,000 to 180,000 tonnes of soy oil in September-October.

- Date: 2021-09-30 · published 2021-09-30T12:00:00.000Z
- Category: logistics · region China · magnitude medium
- Page: https://feedsoft.ai/events/45163-palm-oil-futures-hit-all-time-high-as-china-rushes-to-fill-soy-oil-shortage-s
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Chinese restocking ahead of Golden Week and the loss of domestic soy oil output push buyers toward palm oil, lifting prices. Reduced crushing also cuts meal output, which is supportive for soybean meal.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-10-05 | 5 | +9.6% | 2.8 | Malaysian palm futures hit an all-time high on Sept 30 as Chinese buyers rushed to book cargoes to offset soy oil lost to power-outage crusher shutdowns, a direct demand and substitution driver within the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-02-29 | [Global supply shortfall, higher freight rates may raise edible oil prices](https://feedsoft.ai/events/9427-global-supply-shortfall-higher-freight-rates-may-raise-edible-oil-prices.md) | +4.9% | +8.8% |
| PALMOIL | 2022-05-20 | [Recriminations fly as Indonesia resumes palm oil exports](https://feedsoft.ai/events/41502-recriminations-fly-as-indonesia-resumes-palm-oil-exports.md) | +2.6% | -7.0% |
| PALMOIL | 2017-04-07 | [Malaysia palm planters face labor shortage as Indonesia workers stay away](https://feedsoft.ai/events/71605-malaysia-palm-planters-face-labor-shortage-as-indonesia-workers-stay-away.md) | -3.7% | -2.7% |
| PALMOIL | 2022-11-02 | [Palm oil jumps nearly 5% to 12-wk highs on supply woes - Markets - Business Recorder](https://feedsoft.ai/events/8071-palm-oil-jumps-nearly-5-to-12-wk-highs-on-supply-woes-markets-business-recorder.md) | +2.9% | +0.5% |
| PALMOIL | 2020-04-29 | [Malaysia's FGV expects 2020 crude palm oil output to plunge due to pandemic, ETEnergyworld](https://feedsoft.ai/events/53744-malaysia-s-fgv-expects-2020-crude-palm-oil-output-to-plunge-due-to-pandemic.md) | -9.2% | -3.5% |
| SBO | 2024-02-29 | [Global supply shortfall, higher freight rates may raise edible oil prices](https://feedsoft.ai/events/9427-global-supply-shortfall-higher-freight-rates-may-raise-edible-oil-prices.md) | +0.5% | +7.2% |
| SBO | 2022-01-11 | [Shallow Parana river pressures Argentinian FOB soybean meal, oil basis levels \| S&P Global](https://feedsoft.ai/events/43209-shallow-parana-river-pressures-argentinian-fob-soybean-meal-oil-basis-levels-s.md) | -0.7% | +6.7% |
| SBO | 2026-06-24 | [Argentina oilseed wage talks continue as strike risk enters decisive phase \| S&P Global](https://feedsoft.ai/events/13790-argentina-oilseed-wage-talks-continue-as-strike-risk-enters-decisive-phase-s.md) | -2.8% | +6.5% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/093021-palm-oil-futures-hit-all-time-high-as-china-rushes-to-fill-soy-oil-shortage

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