# Palm oil is a driver of price increases in the global oil market

> APK-Inform reported that crude palm oil rose $90-110 a ton on the back of lower-than-expected Indonesian output, which cut stocks and exports. Sunflower, rapeseed and soybean oil prices also rose, according to Oil World.

- Date: 2024-10-01 · published 2024-10-01T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7243-palm-oil-is-a-driver-of-price-increases-in-the-global-oil-market
- 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), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Tighter Indonesian supply lifts global vegetable oil prices, though Oil World expects a moderate correction and a possible Indonesian output recovery from October.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: neutral
- PALMOIL: bullish ▲
- SUNMEAL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-01 | 1 | +3.9% | 4.4 | Reported lower-than-expected Indonesian output cut stocks and exports and lifted CPO prices, a supply-side driver consistent with the rally, though the dating is imprecise. |
| PALMOIL | 2024-10-07 | 5 | +9.3% | 4.1 | Lower-than-expected Indonesian output cut stocks and exports, supporting higher palm and vegetable oil prices. |
| PALMOIL | 2024-10-04 | 5 | +9.1% | 4.5 | Lower-than-expected Indonesian output cut stocks and exports, lifting palm and other vegetable oil prices. |

## Sources

- apk-inform.com: https://www.apk-inform.com/en/news/1544076

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