# Palm oil production up 2 per cent on previous year - Renewable Carbon News

> A USDA update projects global palm oil output in 2023/24 at a record 79.5 million tonnes, up nearly 2%, with Malaysia's output seen at 19 million tonnes, up 613,000 tonnes. The article notes that new plantings take 3-4 years to yield and that RED II limits on palm-based biofuels will constrain expansion.

- Date: 2024-04-24 · published 2024-04-24T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30838-palm-oil-production-up-2-per-cent-on-previous-year-renewable-carbon-news
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A record global output forecast adds supply that caps palm price gains, though slow plantation growth limits how much the surplus can expand.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-07-25 | [Palm and soybean oil lose a lot of ground - Renewable Carbon News](https://feedsoft.ai/events/58176-palm-and-soybean-oil-lose-a-lot-of-ground-renewable-carbon-news.md) | +0.2% | +8.1% |
| PALMOIL | 2019-05-17 | [FAO vegetable oil price index at eleven-year low - Renewable Carbon News](https://feedsoft.ai/events/59164-fao-vegetable-oil-price-index-at-eleven-year-low-renewable-carbon-news.md) | -1.7% | -2.3% |
| PALMOIL | 2020-06-16 | [FAO vegetable oil price index falls to eight-month low - Renewable Carbon News](https://feedsoft.ai/events/52705-fao-vegetable-oil-price-index-falls-to-eight-month-low-renewable-carbon-news.md) | +3.0% | +5.3% |
| PALMOIL | 2017-03-27 | [Palm oil producers revise up palm oil production, stock data - Business - The Jakarta Post](https://feedsoft.ai/events/72111-palm-oil-producers-revise-up-palm-oil-production-stock-data-business-the.md) | -0.5% | -7.6% |
| PALMOIL | 2023-05-15 | [Palm oil market: CPO export drops as production climbs](https://feedsoft.ai/events/15736-palm-oil-market-cpo-export-drops-as-production-climbs.md) | -2.2% | -9.8% |

## Sources

- renewable-carbon.eu: https://renewable-carbon.eu/news/palm-oil-production-up-2-per-cent-on-previous-year/

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