# High palm oil prices not sustainable; drop forecast in 2H2024 — Palm Oil Analytics

> Fastmarkets Palm Oil Analytics expects crude palm oil prices to fall to RM3,500-3,700 in the second half of 2024 as high output from March and high Chinese and Indian stocks weigh on prices. CIMB forecasts 2024 CPO averaging RM3,900, slightly above 2023. CIMB expects Indonesia's B35 mandate to cut palm exports and support prices.

- Date: 2024-04-01 · published 2024-04-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31288-high-palm-oil-prices-not-sustainable-drop-forecast-in-2h2024-palm-oil-analytics
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Seasonal output pressure and high importer stocks point to lower palm prices in the second half, while Indonesian biodiesel demand offers support. Feed buyers should watch vegetable oil costs through late 2024.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- theedgemalaysia.com: https://theedgemalaysia.com/node/703606

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