# Riding High On Bullish Palm Oil Prices | Sarawak Tribune

> The benchmark March 2020 palm oil contract on Bursa Malaysia Derivatives rose RM22 to RM3,027 per tonne on December 27, a two-year high. Sarawak plantation stocks also climbed to multi-year highs as crude palm oil futures rallied from mid-October levels of about RM2,214.

- Date: 2019-12-28 · published 2019-12-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/8615-riding-high-on-bullish-palm-oil-prices-sarawak-tribune
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lower production data and fears of a supply shortfall continue to lift palm oil futures, which in turn support plantation equities. Price momentum in palm oil tends to influence competing vegetable oil prices.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2020-01-02 | 5 | +10.9% | 3.8 | Benchmark futures at a two-year high on Dec 27 show the momentum building into the 5-day window, though it falls slightly before the window's start. |

## Sources

- sarawaktribune.com: https://www.sarawaktribune.com/riding-high-on-bullish-palm-oil-prices/

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