# Palm oil extends gains on Indonesia supply outlook, biodiesel plan - Markets - Business Recorder

> Malaysian palm oil futures rose for a fifth straight session on Tuesday to a longest rally in six weeks. The gain followed an Indonesian Palm Oil Association estimate that Indonesia's 2024 output will fall to 52-53 million tons and Indonesia's plan for 50% palm biodiesel blending.

- Date: 2024-08-27 · published 2024-08-27T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/28871-palm-oil-extends-gains-on-indonesia-supply-outlook-biodiesel-plan-markets
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected Indonesian supply shortfall and biodiesel demand growth tighten global vegetable oil supplies, supporting palm and soyoil prices.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-09-02 | 1 | +4.1% | 5.9 | Indonesian 2024 output downgrade to 52-53 MMT and the biodiesel blending plan tightened expected supply and added demand, building the bullish backdrop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-08-26 | [Palm oil climbs to one-month high on Indonesia’s tax, biodiesel plans - Markets - Business Recorder](https://feedsoft.ai/events/15630-palm-oil-climbs-to-one-month-high-on-indonesia-s-tax-biodiesel-plans-markets.md) | +0.7% | +6.8% |
| 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 | 2023-11-02 | [Palm oil rises by more than 2% as Indonesia extends export curbs - Markets - Business Recorder](https://feedsoft.ai/events/33278-palm-oil-rises-by-more-than-2-as-indonesia-extends-export-curbs-markets.md) | +4.1% | +6.2% |
| PALMOIL | 2022-01-30 | [Indonesia’s palm oil export curbs upend global edible oil markets - Markets - Business Recorder](https://feedsoft.ai/events/8091-indonesia-s-palm-oil-export-curbs-upend-global-edible-oil-markets-markets.md) | +7.1% | +10.5% |
| 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% |
| SBO | 2024-08-26 | [Palm oil climbs to one-month high on Indonesia’s tax, biodiesel plans - Markets - Business Recorder](https://feedsoft.ai/events/15630-palm-oil-climbs-to-one-month-high-on-indonesia-s-tax-biodiesel-plans-markets.md) | +3.3% | +1.0% |
| 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% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40319515

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