# Palm Oil Price Increases Are Boosting Food Prices at Supermarkets - Bloomberg

> 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.

- Date: 2020-11-26 · published 2020-11-26T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/50247-palm-oil-price-increases-are-boosting-food-prices-at-supermarkets-bloomberg
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2020-11-26/palm-oil-s-stunning-rally-may-cause-domino-effect-on-food-prices

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