# Palm Oil Hits Highest Since 2024 as Biofuels, El Niño Cut Supply - Bloomberg

> Palm oil climbed to its highest level in about 20 months. Rising biofuel demand, particularly Indonesia's B50 mandate, and growing production risks from a strengthening El Niño are underpinning prices.

- Date: 2026-08-20 · published 2026-08-20T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/18011-palm-oil-hits-highest-since-2024-as-biofuels-el-nino-cut-supply-bloomberg
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Biodiesel demand pulls palm oil away from food and export use while El Niño threatens future output, so the supply-demand balance tightens and prices are pushed higher.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2026-08-20/palm-oil-hits-highest-since-2024-as-biofuels-el-nino-cut-supply
- mpoc.org.my: https://www.mpoc.org.my/palm-oil-hits-highest-since-2024-as-biofuels-el-nino-cut-supply/

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