# Malaysian palm oil futures log first monthly rise in three months - Markets - Business Recorder

> Malaysian palm oil futures rose for a second session, posting their first monthly gain in three months, with the November contract closing up 38 ringgit at 3,978 ringgit per metric ton. Chicago and Dalian soyoil rose and buyers were active in the cash market. India is considering higher vegetable oil import taxes, and Indonesia is due to set its September reference price and export levy.

- Date: 2024-08-31 · published 2024-08-31T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/6163-malaysian-palm-oil-futures-log-first-monthly-rise-in-three-months-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Possible Indian import tax hikes could reduce palm oil demand, a bearish risk, while firm soyoil and cash buying support prices. Indonesian export levy decisions also affect export competitiveness.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-24 | [Palm oil futures hits highest level in over two years - Markets - Business Recorder](https://feedsoft.ai/events/27954-palm-oil-futures-hits-highest-level-in-over-two-years-markets-business-recorder.md) | +0.5% | +9.7% |
| PALMOIL | 2026-03-30 | [Palm futures hit 15-month high on Indonesia biodiesel plans, crude rally - Markets - Business Recorder](https://feedsoft.ai/events/20264-palm-futures-hit-15-month-high-on-indonesia-biodiesel-plans-crude-rally-markets.md) | +5.2% | +1.9% |
| PALMOIL | 2023-11-02 | [Palm oil rises by more than 2% as Indonesia extends export curbs - Markets - Business Recorder](https://feedsoft.ai/events/33278-palm-oil-rises-by-more-than-2-as-indonesia-extends-export-curbs-markets.md) | +4.1% | +6.2% |
| PALMOIL | 2022-12-30 | [Palm oil posts annual loss after three years of gains - Markets - Business Recorder](https://feedsoft.ai/events/38332-palm-oil-posts-annual-loss-after-three-years-of-gains-markets-business-recorder.md) | +3.1% | +1.5% |
| PALMOIL | 2023-12-20 | [Malaysian palm settles higher for fifth straight session - Markets - Business Recorder](https://feedsoft.ai/events/32801-malaysian-palm-settles-higher-for-fifth-straight-session-markets-business.md) | +0.4% | +2.1% |
| SBO | 2024-10-24 | [Palm oil futures hits highest level in over two years - Markets - Business Recorder](https://feedsoft.ai/events/27954-palm-oil-futures-hits-highest-level-in-over-two-years-markets-business-recorder.md) | +2.3% | +4.4% |
| SBO | 2026-03-30 | [Palm futures hit 15-month high on Indonesia biodiesel plans, crude rally - Markets - Business Recorder](https://feedsoft.ai/events/20264-palm-futures-hit-15-month-high-on-indonesia-biodiesel-plans-crude-rally-markets.md) | +4.8% | +6.2% |
| SBO | 2022-12-30 | [Palm oil posts annual loss after three years of gains - Markets - Business Recorder](https://feedsoft.ai/events/38332-palm-oil-posts-annual-loss-after-three-years-of-gains-markets-business-recorder.md) | -4.0% | -8.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40320239

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