# BERNAMA - Analysts Forecast Cpo Prices At Rm4,000-rm4,200 Next Year

> Malaysian analysts forecast crude palm oil prices of RM4,000 to RM4,200 per tonne in 2024, below the RM4,900 average of 2022. They cite weather, sunflower oil pricing and geopolitical risks, and say El Nino could cut Malaysian output by about one million tonnes in 2024.

- Date: 2023-09-11 · published 2023-09-11T12:00:00.000Z
- Category: weather · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/34224-bernama-analysts-forecast-cpo-prices-at-rm4-000-rm4-200-next-year
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A lower forecast price range reflects expected supply pressure, while El Nino-driven output losses would be a key upside risk.

## Read by commodity

- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2018-01-09 | [Cpo prices expected to decline on mounting supply \| Borneo Post Online](https://feedsoft.ai/events/67073-cpo-prices-expected-to-decline-on-mounting-supply-borneo-post-online.md) | -2.2% | -3.5% |
| PALMOIL | 2017-08-16 | [Bumper crops weighing on palm oil prices in Southeast Asia - Nikkei Asia](https://feedsoft.ai/events/69557-bumper-crops-weighing-on-palm-oil-prices-in-southeast-asia-nikkei-asia.md) | +1.6% | +10.0% |
| PALMOIL | 2017-01-17 | [Canola acres seen rising on high prices - AgCanada](https://feedsoft.ai/events/73084-canola-acres-seen-rising-on-high-prices-agcanada.md) | 0.0% | -1.7% |
| PALMOIL | 2016-11-29 | [Fitch: Further CPO price rise to be constrained, despite rising biodiesel demand \| The Star](https://feedsoft.ai/events/10933-fitch-further-cpo-price-rise-to-be-constrained-despite-rising-biodiesel-demand.md) | +5.3% | +4.6% |
| PALMOIL | 2018-02-21 | [Processors restrain the growth of prices for sunflower seeds in Ukraine](https://feedsoft.ai/events/66613-processors-restrain-the-growth-of-prices-for-sunflower-seeds-in-ukraine.md) | +0.4% | -2.4% |

## Sources

- bernama.com: https://www.bernama.com/en/news.php?id=2243229

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