# Palm oil climbs to one-month high on Indonesia’s tax, biodiesel plans - Markets - Business Recorder

> Malaysian palm oil futures rose for a fourth straight session on August 26, 2024, closing at a one-month high of 3,921 ringgit per ton. The gain followed reports that Indonesia may lower its export tax and raise biodiesel blending, along with Malaysian weather and production concerns. Trade ministry officials said the export tax adjustment is under consideration.

- Date: 2024-08-26 · published 2024-08-26T12:00:00.000Z
- Category: policy · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/15630-palm-oil-climbs-to-one-month-high-on-indonesia-s-tax-biodiesel-plans-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected Indonesian export tax cuts and higher biodiesel blending both point to firmer palm oil demand and tighter export supply. Weather risks in Malaysia add further support to prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2026-03-30 | [Palm futures hit 15-month high on Indonesia biodiesel plans, crude rally - Markets - Business Recorder](https://feedsoft.ai/events/20264-palm-futures-hit-15-month-high-on-indonesia-biodiesel-plans-crude-rally-markets.md) | +5.2% | +1.9% |
| PALMOIL | 2024-08-27 | [Palm oil extends gains on Indonesia supply outlook, biodiesel plan - Markets - Business Recorder](https://feedsoft.ai/events/28871-palm-oil-extends-gains-on-indonesia-supply-outlook-biodiesel-plan-markets.md) | +4.2% | +6.5% |
| PALMOIL | 2022-12-19 | [Palm oil firms on higher crude prices, Indonesia’s plan to raise biofuel mandate - Markets - Business Recorder](https://feedsoft.ai/events/38333-palm-oil-firms-on-higher-crude-prices-indonesia-s-plan-to-raise-biofuel-mandate.md) | -0.6% | +1.5% |
| PALMOIL | 2022-07-13 | [Palm rises on Indonesia’s biodiesel mandate, lower exports cap gains - Markets - Business Recorder](https://feedsoft.ai/events/15804-palm-rises-on-indonesia-s-biodiesel-mandate-lower-exports-cap-gains-markets.md) | -5.7% | -3.0% |
| PALMOIL | 2021-08-27 | [Indonesia Sept crude palm oil export reference price, export tax set higher - Markets - Business Recorder](https://feedsoft.ai/events/45440-indonesia-sept-crude-palm-oil-export-reference-price-export-tax-set-higher.md) | -1.4% | +1.9% |
| SBO | 2026-03-30 | [Palm futures hit 15-month high on Indonesia biodiesel plans, crude rally - Markets - Business Recorder](https://feedsoft.ai/events/20264-palm-futures-hit-15-month-high-on-indonesia-biodiesel-plans-crude-rally-markets.md) | +4.8% | +6.2% |
| SBO | 2024-08-27 | [Palm oil extends gains on Indonesia supply outlook, biodiesel plan - Markets - Business Recorder](https://feedsoft.ai/events/28871-palm-oil-extends-gains-on-indonesia-supply-outlook-biodiesel-plan-markets.md) | +2.0% | +1.6% |
| SBO | 2022-07-13 | [Palm rises on Indonesia’s biodiesel mandate, lower exports cap gains - Markets - Business Recorder](https://feedsoft.ai/events/15804-palm-rises-on-indonesia-s-biodiesel-mandate-lower-exports-cap-gains-markets.md) | +0.0% | +4.2% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40319349

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