# Palm Oil Surges to Two-Year High on Firm Exports And Crude Rally - Bloomberg

> 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.

- Date: 2024-11-01 · published 2024-11-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/4980-palm-oil-surges-to-two-year-high-on-firm-exports-and-crude-rally-bloomberg
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-11-01 | 1 | +9.2% | 7.9 | Describes the multi-day rally to a two-year high on firm October exports to India, China and the EU plus supply tightening concerns. |
| PALMOIL | 2024-11-04 | 5 | +9.9% | 4.2 | 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). |
| PALMOIL | 2024-10-31 | 1 | +9.2% | 8.1 | 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. |
| PALMOIL | 2024-11-06 | 5 | +10.0% | 4.0 | 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. |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2024/11/01/palm-oil-surges-to-two-year-high-on-firm-exports-and-crude-rally/
- bloomberg.com: https://www.bloomberg.com/news/articles/2024-11-01/palm-oil-surges-to-two-year-high-on-firm-exports-and-crude-rally

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