# Malaysian palm oil rises on export outlook - Markets - Business Recorder

> Malaysian palm oil futures rose on Friday and posted a weekly gain, with the August contract closing up 86 ringgit at 4,079 ringgit per ton. Cargo surveyors estimated May palm oil exports rose 20 to 23 percent from April.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: trade · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/8032-malaysian-palm-oil-rises-on-export-outlook-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Rising Malaysian export estimates signal firmer demand for palm oil, supporting prices and making it a stronger competitor against other vegetable oils in feed formulations.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-06-02 | 1 | +5.0% | 4.2 | Palm futures rose 86 ringgit on May 31 and posted a weekly gain after cargo surveyors estimated May exports up 20-23% from April, a direct demand and trade-flow driver just before the move date. |
| PALMOIL | 2024-06-03 | 1 | +5.0% | 4.0 | Strong May export estimates (up 20-23% m/m) lifted Malaysian palm futures into the end of May, building momentum ahead of the June 3 move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2021-01-29 | [Malaysian palm oil jumps 3pc - Markets - Business Recorder](https://feedsoft.ai/events/49233-malaysian-palm-oil-jumps-3pc-markets-business-recorder.md) | -8.0% | +0.5% |
| PALMOIL | 2020-06-01 | [Palm oil scales near two-month high as May exports rise - Markets - Business Recorder](https://feedsoft.ai/events/52489-palm-oil-scales-near-two-month-high-as-may-exports-rise-markets-business.md) | +12.8% | +14.3% |
| PALMOIL | 2021-07-06 | [Palm oil rises to near 4-week peak on strong Indian demand - Markets - Business Recorder](https://feedsoft.ai/events/46161-palm-oil-rises-to-near-4-week-peak-on-strong-indian-demand-markets-business.md) | +1.4% | +6.4% |
| PALMOIL | 2020-08-19 | [Palm oil climbs to highest in over a week - Markets - Business Recorder](https://feedsoft.ai/events/51735-palm-oil-climbs-to-highest-in-over-a-week-markets-business-recorder.md) | -0.7% | +7.2% |
| PALMOIL | 2023-02-08 | [Palm hits one-month closing high on Indonesia supply worries - Markets - Business Recorder](https://feedsoft.ai/events/37446-palm-hits-one-month-closing-high-on-indonesia-supply-worries-markets-business.md) | -0.4% | +1.7% |
| SBO | 2018-08-19 | [Vegetable Oil - Markets - Business Recorder](https://feedsoft.ai/events/63615-vegetable-oil-markets-business-recorder.md) | -0.3% | -2.8% |
| SBO | 2026-06-20 | [Brazil’s soymeal export push challenges Argentina’s dominance - Markets - Business Recorder](https://feedsoft.ai/events/18881-brazil-s-soymeal-export-push-challenges-argentina-s-dominance-markets-business.md) | +1.6% | +7.3% |
| SBO | 2021-02-11 | [Egypt's GASC gets offers in soyoil, sunflower oil tender - Markets - Business Recorder](https://feedsoft.ai/events/48730-egypt-s-gasc-gets-offers-in-soyoil-sunflower-oil-tender-markets-business.md) | +1.7% | +18.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40306238
- brecorder.com: https://www.brecorder.com/news/40306391

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