# Palm oil prices climb to highest in over 10 years | The Star

> Malaysian palm oil prices climbed to their highest in over 10 years on March 8, 2021. Palm oil trader David Ng attributed the gains to strong crude oil sentiment and a surge in Chicago soybean oil.

- Date: 2021-03-08 · published 2021-03-08T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6563-palm-oil-prices-climb-to-highest-in-over-10-years-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Crude oil and soybean oil strength push palm oil higher through biofuel and substitution linkages, raising vegetable oil costs for feed buyers.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-03-08 | 1 | +6.0% | 4.9 | Same-day coverage cites strong crude sentiment and a Chicago soyoil surge as drivers, confirming the move but partly a reflection of it rather than an independent cause. |

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2021/03/08/palm-oil-prices-climb-to-highest-in-over-10-years

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