# Palm oil surges 3% on higher rival oils, better July exports - Focus Malaysia

> Malaysian palm oil futures for October delivery rose 3.06% to RM2,759 per tonne on Bursa Malaysia, their third straight daily gain. The rally tracked higher Dalian palm oil and soyoil, and Malaysia's July palm oil exports rose 5.8% from June per Intertek. The contract had gained 16.5% in July.

- Date: 2020-08-03 · published 2020-08-03T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6792-palm-oil-surges-3-on-higher-rival-oils-better-july-exports-focus-malaysia
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Palm oil competes with soyoil and other vegetable oils, so gains in rival oils and firmer export flows lift palm prices. Stronger vegetable oil values also support meal and feed-fat costs for buyers.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2020-08-03 | 1 | +7.8% | 4.7 | Directly describes the 3 August palm oil rally on Bursa Malaysia, driven by stronger Dalian palm and soyoil and a 5.8% rise in July exports, which is the demand and rival-oil channel behind the large one-day move. |
| PALMOIL | 2020-08-02 | 1 | +7.8% | 5.1 | On 2020-08-03 Malaysian palm futures jumped about 3% on firmer Dalian palm and soyoil and better July exports, which is the demand and spillover mechanism behind the large one-day gain. |

## Sources

- focusmalaysia.my: https://focusmalaysia.my/palm-oil-surges-3-on-higher-rival-oils-better-july-exports/

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