# Palm oil rises 18pc in 2020 - Markets - Business Recorder

> Malaysian palm oil futures rose about 18% in 2020, their second straight annual gain, as dry weather and infrastructure problems constrained supply while demand stayed firm. The March contract closed the year at 3,602 ringgit a tonne, and a firmer ringgit capped gains. Malaysian palm oil exports for Dec. 1-25 rose 14.4% from the prior period.

- Date: 2020-12-31 · published 2020-12-31T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/49756-palm-oil-rises-18pc-in-2020-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Tighter supply and steady demand support palm oil prices, which compete with soyoil and other vegetable oils for feed and food use. The annual gain points to firm vegetable oil costs heading into 2021.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40046393

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