# Malaysian palm oil jumps 3pc - Markets - Business Recorder

> Malaysian palm oil futures rose for a third straight session, trading about 3% higher on Friday. The April contract on Bursa Malaysia gained 101 ringgit to 3,489 ringgit a tonne after dipping early. Malaysia reported December exports up 10.8% year on year, led by palm oil.

- Date: 2021-01-29 · published 2021-01-29T12:00:00.000Z
- Category: trade · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/49233-malaysian-palm-oil-jumps-3pc-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher Indonesian export levies and duties have made Malaysian palm oil more competitive, supporting Malaysian prices and drawing demand toward Malaysian supply. Palm oil competes with soyoil and other vegetable oils, so firmer palm prices also support the vegetable oil complex.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2020-08-19 | [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 | 2021-07-06 | [Palm oil rises to near 4-week peak on strong Indian demand - Markets - Business Recorder](https://feedsoft.ai/events/46161-palm-oil-rises-to-near-4-week-peak-on-strong-indian-demand-markets-business.md) | +1.4% | +6.4% |
| 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 | 2023-02-08 | [Palm hits one-month closing high on Indonesia supply worries - Markets - Business Recorder](https://feedsoft.ai/events/37446-palm-hits-one-month-closing-high-on-indonesia-supply-worries-markets-business.md) | -0.4% | +1.7% |
| SBO | 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) | +1.3% | +10.6% |
| SBO | 2025-01-06 | [Palm slips on poor demand from India - Markets - Business Recorder](https://feedsoft.ai/events/6539-palm-slips-on-poor-demand-from-india-markets-business-recorder.md) | +3.7% | +12.3% |
| SBO | 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) | +2.8% | -0.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40057870

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