# CPO hits 10-year high on sustained soyoil rally | The Star

> Malaysian palm oil closed at a new 10-year high on March 9, 2021, supported by soybean oil strength from South American weather problems. Soybean oil reached its highest since 2012 and Paris rapeseed futures hit a record as European stocks dwindled.

- Date: 2021-03-09 · published 2021-03-09T12:00:00.000Z
- Category: weather · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/6561-cpo-hits-10-year-high-on-sustained-soyoil-rally-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A global shortage of oilseeds for food and biodiesel uses lifts vegetable oil prices and tightens supply of fats used in feed. Concerns that India may reduce purchases at high prices represent a demand risk.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-08-07 | [Palm hits fresh 10-week high on Indonesia weather concerns \| The Star](https://feedsoft.ai/events/57679-palm-hits-fresh-10-week-high-on-indonesia-weather-concerns-the-star.md) | +3.7% | +3.5% |
| PALMOIL | 2026-10-22 | [Palm oil prices to stay high next year on Southeast Asia drought](https://feedsoft.ai/events/523-palm-oil-prices-to-stay-high-next-year-on-southeast-asia-drought.md) | -0.4% | — |
| PALMOIL | 2020-11-04 | [Palm oil climbs to near 10-month high on tight supply outlook - Markets - Business Recorder](https://feedsoft.ai/events/50253-palm-oil-climbs-to-near-10-month-high-on-tight-supply-outlook-markets-business.md) | +6.0% | +10.9% |
| PALMOIL | 2021-08-17 | [Palm oil stocks record stronger H1 revenue, profits on higher CPO prices, demand - The Business Times](https://feedsoft.ai/events/45660-palm-oil-stocks-record-stronger-h1-revenue-profits-on-higher-cpo-prices-demand.md) | -1.4% | -0.2% |
| PALMOIL | 2017-03-14 | [Weak El Nino to have small impact on Asian crops this year \| The Star](https://feedsoft.ai/events/71913-weak-el-nino-to-have-small-impact-on-asian-crops-this-year-the-star.md) | +1.5% | -5.2% |
| SBO | 2025-07-18 | [U.S. grains: Soybean futures set two-week high on US weather worry, soyoil rally \| The Western Producer](https://feedsoft.ai/events/23828-u-s-grains-soybean-futures-set-two-week-high-on-us-weather-worry-soyoil-rally.md) | +1.4% | -2.2% |
| SBO | 2026-02-25 | [Soybeans Rally with the Help of Meal](https://feedsoft.ai/events/5500-soybeans-rally-with-the-help-of-meal.md) | +2.8% | -1.6% |
| SBO | 2023-12-01 | [CPO prices to rise to US$850/tonne or higher next year](https://feedsoft.ai/events/33279-cpo-prices-to-rise-to-us-850-tonne-or-higher-next-year.md) | -1.8% | -5.2% |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2021/03/10/cpo-hits-10-year-high-on-sustained-soyoil-rally

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