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Palm oil rose above 4,500 ringgit ($1,091) a tonne to a record on May 12, and has gained more than 120% over the past year. The rally follows gains in farm commodities driven by weather worries and China's crop buying.
Analysts warn that high prices will raise costs for food, confectionery and cosmetics makers.
Record palm oil prices raise input costs for consumer goods makers and could shift demand toward cheaper vegetable oils such as soybean and sunflower oil. The price level signals tight global edible oil supply.
fortune.comBloombergMay 13, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
