On 28 January, palm oil prices recorded a historic drop of 10%, the highest daily fall in 11 years, noted the Agritel agricultural strategies firm. In recent months, palm has been the main driver of changes in oilseed prices. The first key event: the Indian boycott of Malaysian palm oil. The Indian government took this decision at the beginning of the month, following criticism by the Malaysian prime minister of the new Indian citizenship act, which excludes undocumented Muslims from measures introduced by the country’s authorities to extend citizenship to migrants. The coronavirus seems to be the second key event. The spread of the virus is worrying traders in all raw materials. “The risk of a slowdown in global growth and reduced trade have also led to falls on various stock markets and in oil prices this week.