# Palm oil climbs to near 10-month high on tight supply outlook - Markets - Business Recorder

> Malaysian palm oil futures hit a near 10-month high on Wednesday, gaining 1.95% to 3,130 ringgit a tonne. Traders expect October stockpiles and output to have fallen, as COVID-19 restrictions and labour shortages hampered harvesting. La Nina rains in Southeast Asia have also squeezed supply.

- Date: 2020-11-04 · published 2020-11-04T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/50253-palm-oil-climbs-to-near-10-month-high-on-tight-supply-outlook-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expected stock drawdowns and lower output tighten palm supply, supporting vegetable oil prices and feed fat costs. La Nina weather is likely to persist into early 2021.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2020-07-21 | [Palm oil bounces back, hovers near 5-month high on supply concerns - Markets - Business Recorder](https://feedsoft.ai/events/52202-palm-oil-bounces-back-hovers-near-5-month-high-on-supply-concerns-markets.md) | +0.4% | +8.7% |
| PALMOIL | 2025-02-26 | [Palm oil supplies to remain tight for next 2-3 months - Markets - Business Recorder](https://feedsoft.ai/events/26150-palm-oil-supplies-to-remain-tight-for-next-2-3-months-markets-business-recorder.md) | -5.5% | -2.7% |
| PALMOIL | 2026-10-13 | [Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder](https://feedsoft.ai/events/530-palm-climbs-to-two-week-high-as-el-nino-supply-fears-outweigh-stocks-markets.md) | -0.2% | — |
| PALMOIL | 2021-06-02 | [Palm oil climbs 5pc, hits two-week high - Markets - Business Recorder](https://feedsoft.ai/events/6356-palm-oil-climbs-5pc-hits-two-week-high-markets-business-recorder.md) | +4.3% | -5.7% |
| PALMOIL | 2021-10-25 | [Palm rebounds on tight supply concerns, rival oil strength - Markets - Business Recorder](https://feedsoft.ai/events/44664-palm-rebounds-on-tight-supply-concerns-rival-oil-strength-markets-business.md) | +0.3% | +1.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40030609

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