# BMI revises 2024 forecast for palm oil futures contracts to RM3,750 from RM3,515 per tonne | Malay Mail

> BMI raised its 2024 average forecast for Bursa Malaysia third-month palm oil futures to RM3,750 per tonne from RM3,515. It still expects prices to soften from current levels, with contracts averaging RM3,830 through February 14, 2024, and projects a 2025 average near RM3,500.

- Date: 2024-02-20 · published 2024-02-20T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/31764-bmi-revises-2024-forecast-for-palm-oil-futures-contracts-to-rm3-750-from-rm3
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A higher forecast signals firmer palm oil values, which supports the vegetable oil complex and competes with soyoil and meal for feed buyers. The expected softening through 2024 and possible La Niña support to output temper the upside.

## Read by commodity

- SBO: neutral
- PALMOIL: bullish ▲

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2024/02/20/bmi-revises-2024-forecast-for-palm-oil-futures-contracts-to-rm3750-from-rm3515-per-tonne/118971

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