# Palm oil likely to rule higher than current levels in the short-term - The HinduBusinessLine

> Palm oil prices are expected to stay elevated in the short term, according to analysts cited by The Hindu BusinessLine. Malaysian palm oil futures rose above MYR 3,930 per tonne, and BMI raised its end-2024 price forecast to MYR 3,850 from MYR 3,750 while still expecting bearish pressure into 2025.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/28870-palm-oil-likely-to-rule-higher-than-current-levels-in-the-short-term-the
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Indonesian output, planned higher biodiesel blending and Indian festival demand tighten palm supply, supporting palm oil prices and competing vegetable oil values.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/palm-oil-likely-to-rule-higher-than-current-levels-in-the-short-term/article68576749.ece

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