# Tight palm oil supplies to support prices in 2024: MPOB | S&P Global

> Malaysian Palm Oil Board (MPOB) expects Malaysian palm oil output to rise about 1.1% to 18.75 million tonnes in 2024 and year-end stocks to fall below 2 million tonnes. MPOB forecasts crude palm oil between MR3,900 and MR4,200 per tonne, citing labor shortages and limited exports from Indonesia.

- Date: 2024-01-11 · published 2024-01-11T12:00:00.000Z
- Category: report · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/32228-tight-palm-oil-supplies-to-support-prices-in-2024-mpob-s-and-p-global
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Tighter Malaysian stocks and constrained Indonesian exports support palm oil prices, which lifts vegetable oil costs for feed formulators.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-06-14 | [Palm oil prices to find support at RM3,900 a tonne in June on tight supply, upsurge in exports](https://feedsoft.ai/events/29872-palm-oil-prices-to-find-support-at-rm3-900-a-tonne-in-june-on-tight-supply.md) | -0.4% | +0.2% |
| PALMOIL | 2024-04-29 | [World Bank Predicts Palm Oil Prices to Strengthen in 2024](https://feedsoft.ai/events/30835-world-bank-predicts-palm-oil-prices-to-strengthen-in-2024.md) | -6.1% | -5.0% |
| PALMOIL | 2020-02-03 | [Tight supply to boost palm oil prices despite virus fear: Oil World \| Daily FT](https://feedsoft.ai/events/4956-tight-supply-to-boost-palm-oil-prices-despite-virus-fear-oil-world-daily-ft.md) | -5.6% | -23.1% |
| PALMOIL | 2022-01-12 | [Palm oil imports to dip in 2021-22 on lower Malaysia exports, converging vegoil prices: US FAS](https://feedsoft.ai/events/43229-palm-oil-imports-to-dip-in-2021-22-on-lower-malaysia-exports-converging-vegoil.md) | +2.6% | +11.7% |
| PALMOIL | 2023-03-02 | [Fitch Solutions: Global palm oil market to record narrow deficit in 2022/2023 \| Malay Mail](https://feedsoft.ai/events/36963-fitch-solutions-global-palm-oil-market-to-record-narrow-deficit-in-2022-2023.md) | -0.0% | -5.3% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/011124-tight-palm-oil-supplies-to-support-prices-in-2024-mpob

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