# Palm oil hits five-month high on India demand, supply worries - Markets - Business Recorder

> Malaysian palm oil futures hit a five-month high on Sept 27, 2024, with the December contract up 2.7% to 4,152 ringgit a ton. Strong Indian demand ahead of the festive season and production concerns in Malaysia and Indonesia drove the rally, and the contract was up 11% over seven sessions.

- Date: 2024-09-27 · published 2024-09-27T12:00:00.000Z
- Category: market · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/7244-palm-oil-hits-five-month-high-on-india-demand-supply-worries-markets-business
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Robust Indian restocking and tightening palm output expectations support prices, and a weather-driven production peak in October could extend the rally.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-07 | 5 | +9.3% | 4.1 | The rally to a five-month high on Indian festive demand and Malaysian and Indonesian production concerns set the bullish backdrop going into the window. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40324211

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