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Palm oil rallied for a third day to its highest level in more than two years on strong demand and concerns over tightening supply. Malaysian October shipments rose 11% from September on stronger exports to India, China and the EU, according to Intertek Testing Services.
Firm export pace and tighter supply support palm prices, which in turn lift the cost of vegetable oils and feed inputs that compete with palm for demand.
themalaysianreserve.comDayang NorazharNov 1, 2024
bloomberg.comBernadette TohNov 1, 2024Not enough comparable past events yet for a historical read.
Not 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.
Describes the multi-day rally to a two-year high on firm October exports to India, China and the EU plus supply tightening concerns.
Palm rallied to a two-year high on a 11% rise in October Malaysian exports to India, China and EU and tightening supply concerns (demand and supply).
Palm hit a two-year high on strong Malaysian October exports to India, China and the EU plus a crude rally, pointing to demand and sentiment.
Palm rallied for a third day to a two-year high on strong October exports to India, China and the EU and supply-tightening worries, supporting demand-led price gains.
