# Palm oil set for more losses on China virus, Indian import curbs - The HinduBusinessLine

> Malaysian palm oil futures fell sharply after Dalian futures dropped their daily limit of 7% when trading resumed following China's Lunar New Year break. The coronavirus outbreak has disrupted travel and activity in China, the second-largest palm oil importer. India had also restricted refined palm oil imports and informally halted purchases from Malaysia in January.

- Date: 2020-02-03 · published 2020-02-03T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/4953-palm-oil-set-for-more-losses-on-china-virus-indian-import-curbs-the
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lower Chinese demand combined with India's import curbs removes major outlets for Malaysian palm oil, pressuring prices. Traders see the benchmark possibly falling below 2,500 ringgit if disruption persists.

## Read by commodity

- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2020-02-03 | 1 | -11.4% | -8.1 | Dalian futures fell their 7% daily limit on reopening after Lunar New Year, and coronavirus disruption in China plus Indian import curbs drove the sharp drop in Malaysian palm futures on Feb 3. |
| PALMOIL | 2020-02-03 | 5 | -12.8% | -4.9 | Dalian palm futures hit limit-down on reopening after Lunar New Year while coronavirus disrupted demand from China and India curbed refined palm imports, directly driving the sharp drop in Malaysian futures. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-02-14 | [India's curbs on Malaysian palm imports stir up edible oil trade](https://feedsoft.ai/events/54691-india-s-curbs-on-malaysian-palm-imports-stir-up-edible-oil-trade.md) | -0.5% | -15.3% |
| PALMOIL | 2017-05-24 | [Chinese demand for palm oil set to drop \| The Star](https://feedsoft.ai/events/71094-chinese-demand-for-palm-oil-set-to-drop-the-star.md) | -0.7% | -4.8% |
| PALMOIL | 2024-02-02 | [Palm falls 1% on India efforts to cut edible oil imports - Markets - Business Recorder](https://feedsoft.ai/events/31765-palm-falls-1-on-india-efforts-to-cut-edible-oil-imports-markets-business.md) | +0.6% | +3.9% |
| PALMOIL | 2017-04-12 | [China edible oil price slump to hit palm oil imports \| Borneo Post Online](https://feedsoft.ai/events/71601-china-edible-oil-price-slump-to-hit-palm-oil-imports-borneo-post-online.md) | -2.5% | +1.6% |
| PALMOIL | 2023-05-03 | [India’s Palm Oil Imports Hit 14-month Low, Said Dealers](https://feedsoft.ai/events/4380-india-s-palm-oil-imports-hit-14-month-low-said-dealers.md) | +9.2% | +2.0% |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/palm-oil-set-for-more-losses-on-china-virus-indian-import-curbs/article30727223.ece

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