# Palm oil climbs to highest in over a week - Markets - Business Recorder

> Malaysian palm oil futures closed at their highest in more than a week on Wednesday, rising for a third session with rival edible oils. Malaysian palm exports for Aug. 1-15 fell 20.2% from the previous month, and reports suggested China planned a 2 million tonne soyoil restocking program.

- Date: 2020-08-19 · published 2020-08-19T12:00:00.000Z
- Category: trade · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51735-palm-oil-climbs-to-highest-in-over-a-week-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Possible Chinese soyoil restocking would lift demand for vegetable oils, supporting palm and soy oil prices. Weaker exports and a firmer ringgit limit the upside.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-07-06 | [Palm oil rises to near 4-week peak on strong Indian demand - Markets - Business Recorder](https://feedsoft.ai/events/46161-palm-oil-rises-to-near-4-week-peak-on-strong-indian-demand-markets-business.md) | +1.4% | +6.4% |
| PALMOIL | 2021-01-29 | [Malaysian palm oil jumps 3pc - Markets - Business Recorder](https://feedsoft.ai/events/49233-malaysian-palm-oil-jumps-3pc-markets-business-recorder.md) | -8.0% | +0.5% |
| PALMOIL | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +12.8% | +14.3% |
| PALMOIL | 2023-02-08 | [Palm hits one-month closing high on Indonesia supply worries - Markets - Business Recorder](https://feedsoft.ai/events/37446-palm-hits-one-month-closing-high-on-indonesia-supply-worries-markets-business.md) | -0.4% | +1.7% |
| PALMOIL | 2024-05-31 | [Malaysian palm oil rises on export outlook - Markets - Business Recorder](https://feedsoft.ai/events/8032-malaysian-palm-oil-rises-on-export-outlook-markets-business-recorder.md) | +2.2% | +1.0% |
| SBO | 2021-01-29 | [Malaysian palm oil jumps 3pc - Markets - Business Recorder](https://feedsoft.ai/events/49233-malaysian-palm-oil-jumps-3pc-markets-business-recorder.md) | +3.7% | +13.9% |
| SBO | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +2.8% | -0.7% |
| SBO | 2023-02-08 | [Palm hits one-month closing high on Indonesia supply worries - Markets - Business Recorder](https://feedsoft.ai/events/37446-palm-hits-one-month-closing-high-on-indonesia-supply-worries-markets-business.md) | +0.7% | -0.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40013275

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