# Palm oil prices seen ticking up as rains slash output and demand strengthens | Reuters

> Indonesia's palm oil stockpile fell to 4.04 million tonnes at the end of August, down from 5.91 million a month earlier and 6.69 million at end-June, according to GAPKI estimates. Biodiesel demand is rising, with Indonesia exporting 206,000 tonnes in January-August versus 167,000 tonnes for all of 2021. Rains are cutting output and demand is strengthening.

- Date: 2022-10-21 · published 2022-10-21T12:00:00.000Z
- Category: weather · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/15781-palm-oil-prices-seen-ticking-up-as-rains-slash-output-and-demand-strengthens
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Falling Indonesian stocks and stronger biodiesel demand tighten global palm supply, supporting palm oil prices and their discount-to-soyoil relationship.

## Read by commodity

- SBO: neutral
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-08-30 | [From rice to palm oil, Asian crops output forecast lower as El Nino strengthens](https://feedsoft.ai/events/34470-from-rice-to-palm-oil-asian-crops-output-forecast-lower-as-el-nino-strengthens.md) | +0.6% | -3.1% |
| PALMOIL | 2017-07-21 | [Palm oil demand up as dry U.S. weather seen hurting rival soy crops](https://feedsoft.ai/events/70055-palm-oil-demand-up-as-dry-u-s-weather-seen-hurting-rival-soy-crops.md) | +0.8% | +3.5% |
| PALMOIL | 2023-09-06 | [From rice to palm oil, crop output forecasts for Asia-Pacific lower as El Nino strengthens \| The Straits Times](https://feedsoft.ai/events/33998-from-rice-to-palm-oil-crop-output-forecasts-for-asia-pacific-lower-as-el-nino.md) | -4.2% | -6.4% |
| PALMOIL | 2024-12-13 | [Exclusive: Heavy rains to hit Malaysian palm oil output again in December, says MPOB \| Reuters](https://feedsoft.ai/events/27041-exclusive-heavy-rains-to-hit-malaysian-palm-oil-output-again-in-december-says.md) | -3.6% | -12.0% |
| PALMOIL | 2023-09-29 | [Indonesian Palm Oil Association sees palm oil prices rising in 2024 as El Nino crimps domestic output](https://feedsoft.ai/events/34219-indonesian-palm-oil-association-sees-palm-oil-prices-rising-in-2024-as-el-nino.md) | -4.5% | -3.5% |
| SBO | 2024-01-23 | [Palm oil rebounds on severe rain concerns, Chinese demand - Markets - Business Recorder](https://feedsoft.ai/events/32229-palm-oil-rebounds-on-severe-rain-concerns-chinese-demand-markets-business.md) | -5.7% | -4.7% |
| SBO | 2026-08-01 | [Sunflower Market: EU Heat Stress Tightens 2026 Outlook, Prices Firm — CMB News](https://feedsoft.ai/events/18467-sunflower-market-eu-heat-stress-tightens-2026-outlook-prices-firm-cmb-news.md) | +3.6% | +0.5% |
| SBO | 2023-06-29 | [Soybean oil supply and demand: Scott Gerlt comments - Fastmarkets](https://feedsoft.ai/events/15304-soybean-oil-supply-and-demand-scott-gerlt-comments-fastmarkets.md) | +8.3% | +13.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/palm-oil-prices-seen-ticking-up-rains-slash-output-demand-strengthens-2022-10-21/

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