# Palm oil rises to near 4-week peak on strong Indian demand - Markets - Business Recorder

> Malaysian palm oil futures rose to a near four-week high on July 6, gaining 1.8% to 3,950 ringgit a tonne. The gain was driven by renewed Indian buying of refined palm oil after a one-year gap.

- Date: 2021-07-06 · published 2021-07-06T12:00:00.000Z
- Category: trade · region India · magnitude medium
- Page: https://feedsoft.ai/events/46161-palm-oil-rises-to-near-4-week-peak-on-strong-indian-demand-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Resumed Indian import demand supports palm oil prices, though analysts warn it may fade at current levels and that cheaper Indonesian supply is taking share from Malaysia.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-04-09 | [Palm set for 3% weekly rise on prospects of strong demand, tight supply - Markets - Business Recorder](https://feedsoft.ai/events/47701-palm-set-for-3-weekly-rise-on-prospects-of-strong-demand-tight-supply-markets.md) | -0.3% | +11.0% |
| PALMOIL | 2020-08-19 | [Palm oil climbs to highest in over a week - Markets - Business Recorder](https://feedsoft.ai/events/51735-palm-oil-climbs-to-highest-in-over-a-week-markets-business-recorder.md) | -0.7% | +7.2% |
| PALMOIL | 2024-05-31 | [Malaysian palm oil rises on export outlook - Markets - Business Recorder](https://feedsoft.ai/events/8032-malaysian-palm-oil-rises-on-export-outlook-markets-business-recorder.md) | +2.2% | +1.0% |
| PALMOIL | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +12.8% | +14.3% |
| PALMOIL | 2021-01-29 | [Malaysian palm oil jumps 3pc - Markets - Business Recorder](https://feedsoft.ai/events/49233-malaysian-palm-oil-jumps-3pc-markets-business-recorder.md) | -8.0% | +0.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40105387

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