# Palm ends higher on strength of rival oils, lower Indonesia output - Markets - Business Recorder

> Malaysian palm oil futures rose as much as 3.35% on Thursday, extending gains with a rally in rival soyoils. Reports of China restocking 2 million tonnes of soyoil and lower Indonesian output also supported sentiment, while a sharply stronger ringgit limited gains.

- Date: 2020-08-13 · published 2020-08-13T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/51740-palm-ends-higher-on-strength-of-rival-oils-lower-indonesia-output-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected Chinese restocking and lower Indonesian supply support vegetable oil prices, though currency strength caps the rally.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40011846

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