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Palm oil prices have climbed to their highest in eight years, up almost 70% since May's low. Bad weather has disrupted rival oilseed planting, and Malaysian plantation labour shortages have tightened palm supply.
Optimism about a coronavirus vaccine has also boosted demand.
Tighter vegetable oil supply lifts input costs for food makers and feed fat users, and supports soybean oil and other rival oils. Higher palm prices may also curb biofuel blending economics.
bloomberg.comAnuradha RaghuNov 26, 2020Not 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.
