# Palm oil’s changing fortunes signal a brighter 2020   - The HinduBusinessLine

> Malaysian benchmark palm oil futures are on track for their best annual gain in nearly a decade, up about 35% in 2019 and above 2,900 ringgit a tonne. Analysts cite dry weather, haze hurting output, and Indonesia's compulsory biodiesel program. Most industry players expect prices to stay elevated in 2020, with an average near 2,600 ringgit.

- Date: 2019-12-18 · published 2019-12-18T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/55464-palm-oil-s-changing-fortunes-signal-a-brighter-2020-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower production from dry weather and rising biodiesel mandates tighten palm supply and support prices into 2020. Soybean oil also gained 22% this year, reflecting broader vegetable oil strength.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2019-12-18 | 5 | +7.0% | 3.4 | Palm oil futures were strong on dry weather, haze-reduced output and Indonesian biodiesel mandates, lifting substitute vegetable oil prices. |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/palm-oils-changing-fortunes-signal-a-brighter-2020/article30340717.ece

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