# Crucial 2024 likely for palm oil industry – CPOPC

> The Council of Palm Oil Producing Countries (CPOPC) says 2024 will be a critical year for the industry, citing the EU Deforestation-Free Regulation and forced labour legislation. CPOPC remains bullish, projecting crude palm oil prices between US$800 and US$1,000 per tonne, supported by falling production, ageing trees, weather and biofuel mandates.

- Date: 2023-12-13 · published 2023-12-13T12:00:00.000Z
- Category: policy · region EU · magnitude low
- Page: https://feedsoft.ai/events/32802-crucial-2024-likely-for-palm-oil-industry-cpopc
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Trade barriers in Europe could limit palm exports, but CPOPC's forecast of supply tightness from ageing trees and biofuel demand supports a firmer price outlook.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2022-12-19 | [Palm oil industry catalyst](https://feedsoft.ai/events/15770-palm-oil-industry-catalyst.md) | -0.6% | +1.5% |
| PALMOIL | 2025-06-06 | [Increase in CPO Export Levy Becomes Disincentive for Upstream-Downstream Palm Oil Industry](https://feedsoft.ai/events/15551-increase-in-cpo-export-levy-becomes-disincentive-for-upstream-downstream-palm.md) | -0.8% | +4.5% |
| PALMOIL | 2021-02-23 | [The Palm Oil Industry is Changing — and the EU Can Help — CSPO](https://feedsoft.ai/events/48669-the-palm-oil-industry-is-changing-and-the-eu-can-help-cspo.md) | +2.8% | +8.4% |
| PALMOIL | 2018-02-28 | [Palm Oil News - CPO OF in March 2018 is Zero](https://feedsoft.ai/events/10369-palm-oil-news-cpo-of-in-march-2018-is-zero.md) | -0.9% | -2.6% |
| PALMOIL | 2017-02-01 | [Palm Oil News - National Palm Oil Industries Might be Good](https://feedsoft.ai/events/72369-palm-oil-news-national-palm-oil-industries-might-be-good.md) | -0.5% | -8.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/crucial-2024-likely-for-palm-oil-industry-cpopc/

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