# Lower November palm oil inventory pushes CPO prices higher

> Malaysian palm oil stockpiles fell 4.1% in November to a three-month low of 2.26 million tonnes, according to MPOB data. Production dropped 14.4% to 1.54 million tonnes and shipments contracted 14.6%.

- Date: 2019-12-11 · published 2019-12-11T12:00:00.000Z
- Category: report · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/55659-lower-november-palm-oil-inventory-pushes-cpo-prices-higher
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tighter palm oil stocks and falling output support crude palm oil prices, which have reached record highs on expectations of 2020 supply shortages. Analysts expect prices to hover near current levels before correcting.

## 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 | MPOB data showed lower Malaysian palm stocks and production, tightening competing vegetable oil supply and supporting soybean oil prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| PALMOIL | 2022-01-12 | [Palm oil imports to dip in 2021-22 on lower Malaysia exports, converging vegoil prices: US FAS](https://feedsoft.ai/events/43229-palm-oil-imports-to-dip-in-2021-22-on-lower-malaysia-exports-converging-vegoil.md) | +2.6% | +11.7% |
| PALMOIL | 2021-04-29 | [Wilmar sees high commodity prices boosting its palm oil business](https://feedsoft.ai/events/47700-wilmar-sees-high-commodity-prices-boosting-its-palm-oil-business.md) | +3.3% | +9.2% |
| PALMOIL | 2024-11-05 | [Malaysia’s end-October palm oil stocks fall on lower output, higher exports](https://feedsoft.ai/events/8039-malaysia-s-end-october-palm-oil-stocks-fall-on-lower-output-higher-exports.md) | +4.0% | +0.3% |
| PALMOIL | 2024-11-01 | [Crude palm oil prices likely to remain high through the first quarter of 2025](https://feedsoft.ai/events/4986-crude-palm-oil-prices-likely-to-remain-high-through-the-first-quarter-of-2025.md) | +9.9% | +9.2% |
| SBO | 2022-01-12 | [Palm oil imports to dip in 2021-22 on lower Malaysia exports, converging vegoil prices: US FAS](https://feedsoft.ai/events/43229-palm-oil-imports-to-dip-in-2021-22-on-lower-malaysia-exports-converging-vegoil.md) | -0.8% | +4.6% |
| SBO | 2020-07-22 | [Asian palm oil producers forecast lower output in 2020](https://feedsoft.ai/events/52037-asian-palm-oil-producers-forecast-lower-output-in-2020.md) | -2.2% | +5.0% |
| SBO | 2025-01-14 | [Sunflower prices remain high - Trademagazin](https://feedsoft.ai/events/26635-sunflower-prices-remain-high-trademagazin.md) | +1.4% | +3.0% |

## Sources

- themalaysianreserve.com: https://themalaysianreserve.com/2019/12/11/lower-november-palm-oil-inventory-pushes-cpo-prices-higher/

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