# Commodities 2024: Palm oil sees global recovery on biodiesel demand, stagnant supplies

> S&P Global's survey of 11 markets and government agencies projects Malaysian crude palm oil futures to average MR4,000/mt in 2024, up from MR3,798 in 2023. Analysts cite stagnant Indonesian and Malaysian output and rising biodiesel demand. El Niño is a wildcard for supply.

- Date: 2023-12-22 · published 2023-12-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/15679-commodities-2024-palm-oil-sees-global-recovery-on-biodiesel-demand-stagnant
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Flat production against rising biodiesel and food demand points to tighter palm supplies and firmer prices. El Niño risk adds upside uncertainty for vegetable oil markets.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/122223-palm-oil-sees-global-recovery-in-2024-on-biodiesel-demand-stagnant-supplies

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