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Palm oil surged more than 120% over the past year and broke through 4,500 ringgit ($1,091) a tonne to a record. The rally has been driven by global commodity gains tied to weather worries and China's crop buying.
Higher palm oil costs are expected to affect chocolate, pastry and cosmetics makers.
Record palm oil prices raise costs for food and personal-care manufacturers and may push buyers toward alternative oils. The sustained rally signals tight global vegetable oil supply.
scmp.comBloombergMay 16, 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.
