# Palm oil reverses early losses - Markets - Business Recorder

> Malaysian palm oil futures reversed early losses on Wednesday, closing up 1.51% at 2,683 ringgit a tonne. The Indonesian Palm Oil Association reported that Indonesian crude palm oil output fell 8.9% to 23.5 million tonnes in January-June, due to drier weather and lower demand.

- Date: 2020-08-12 · published 2020-08-12T12:00:00.000Z
- Category: report · region Indonesia · magnitude low
- Page: https://feedsoft.ai/events/51736-palm-oil-reverses-early-losses-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A sharp drop in Indonesian output, the world's largest palm producer, tightens global vegetable oil supply and supports prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-01-05 | [Palm oil hits 10-year high - Markets - Business Recorder](https://feedsoft.ai/events/4999-palm-oil-hits-10-year-high-markets-business-recorder.md) | +1.3% | -10.0% |
| PALMOIL | 2026-02-04 | [Palm oil tracks Dalian rivals higher - Markets - Business Recorder](https://feedsoft.ai/events/4663-palm-oil-tracks-dalian-rivals-higher-markets-business-recorder.md) | -1.6% | -0.6% |
| PALMOIL | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +10.3% | +12.9% |
| PALMOIL | 2021-03-25 | [Indonesia’s end-2021 palm oil stocks seen plunging - Markets - Business Recorder](https://feedsoft.ai/events/47981-indonesia-s-end-2021-palm-oil-stocks-seen-plunging-markets-business-recorder.md) | -1.3% | -1.8% |
| PALMOIL | 2021-01-05 | [Malaysian palm oil stocks forecast lower, keeping prices high in 2021 - Markets - Business Recorder](https://feedsoft.ai/events/4995-malaysian-palm-oil-stocks-forecast-lower-keeping-prices-high-in-2021-markets.md) | +1.3% | -10.0% |
| SBO | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +6.2% | +2.3% |
| SBO | 2020-06-12 | [US soy crush seen at 173.071mn bushels - Markets - Business Recorder](https://feedsoft.ai/events/52699-us-soy-crush-seen-at-173-071mn-bushels-markets-business-recorder.md) | +2.0% | +2.2% |
| SBO | 2020-07-31 | [Soybeans firm as US biodiesel data lifts soyoil; corn flat - Markets - Business Recorder](https://feedsoft.ai/events/51967-soybeans-firm-as-us-biodiesel-data-lifts-soyoil-corn-flat-markets-business.md) | +5.1% | +11.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40011688

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