# Crude palm oil price movement revolves around petroleum market, says plantation expert | Malay Mail

> Plantation expert James Fry of LMC International said petroleum prices drive the crude palm oil price range and signal the health of the global economy. He said a deep global recession makes a strong palm market difficult and that Brent could approach US$50 per barrel by year-end if OPEC acts sensibly. Brent was trading at about US$42.21 at the time.

- Date: 2020-06-22 · published 2020-06-22T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/52728-crude-palm-oil-price-movement-revolves-around-petroleum-market-says-plantation
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Palm oil competes with crude as biodiesel feedstock, so higher Brent would lift palm and vegetable oil prices. Weak global demand from recession limits the upside.

## Read by commodity

- BRENT: bullish ▲
- PALMOIL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-07-24 | [Crude oil market gets whiplash, investors should expect more volatility](https://feedsoft.ai/events/64202-crude-oil-market-gets-whiplash-investors-should-expect-more-volatility.md) | +2.4% | -2.2% |
| BRENT | 2026-03-28 | [Ringgit expected to hover around 4.00 amid oil‑driven inflation fears, hawkish Fed \| Malay Mail](https://feedsoft.ai/events/20419-ringgit-expected-to-hover-around-4-00-amid-oil-driven-inflation-fears-hawkish.md) | +1.2% | -5.1% |
| BRENT | 2022-05-17 | [Stronger U.S. dollar contributes to higher crude oil prices in international markets -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/41586-stronger-u-s-dollar-contributes-to-higher-crude-oil-prices-in-international.md) | -0.2% | +9.4% |
| BRENT | 2018-04-30 | [Higher oil prices to divide emerging markets, benefit Malaysia](https://feedsoft.ai/events/65778-higher-oil-prices-to-divide-emerging-markets-benefit-malaysia.md) | -0.2% | +2.0% |
| BRENT | 2024-01-26 | [Crude oil prices today: WTI, Brent on pace for weekly gain](https://feedsoft.ai/events/32275-crude-oil-prices-today-wti-brent-on-pace-for-weekly-gain.md) | -2.4% | +2.9% |
| PALMOIL | 2022-06-28 | [Ringgit appreciates against US dollar on improved market sentiment \| Malay Mail](https://feedsoft.ai/events/41230-ringgit-appreciates-against-us-dollar-on-improved-market-sentiment-malay-mail.md) | -24.1% | -29.6% |
| PALMOIL | 2020-01-25 | [Why palm oil biofuel simply cannot replace fossil fuel yet in Malaysia](https://feedsoft.ai/events/54963-why-palm-oil-biofuel-simply-cannot-replace-fossil-fuel-yet-in-malaysia.md) | -1.5% | -12.6% |
| PALMOIL | 2020-10-31 | [Bank Negara’s OPR decision, Budget 2021, US elections to influence ringgit movement next week \| Malay Mail](https://feedsoft.ai/events/50887-bank-negara-s-opr-decision-budget-2021-us-elections-to-influence-ringgit.md) | +7.4% | +13.1% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2020/06/22/crude-palm-oil-price-movement-revolves-around-petroleum-market-says-plantat/1877729

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