# Malaysia palm oil prices seen at 3,700-4,200 ringgit in H2 -state agency

> Malaysia's state agency MPOC forecast crude palm oil prices at 3,700-4,200 ringgit per metric ton for the second half of 2023. It said prices could exceed 4,300 ringgit heading into 2024, citing uncertain sunflower oil supply from the Black Sea and below-expected Malaysian output.

- Date: 2023-08-01 · published 2023-08-01T12:00:00.000Z
- Category: report · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/34680-malaysia-palm-oil-prices-seen-at-3-700-4-200-ringgit-in-h2-state-agency
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lower-than-expected Malaysian output and Black Sea sunflower oil uncertainty support the price outlook for palm oil and competing vegetable oils.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2019-11-07 | [Total palm oil output of Indonesia, Malaysia seen flat in 2020 - analyst Mistry](https://feedsoft.ai/events/55947-total-palm-oil-output-of-indonesia-malaysia-seen-flat-in-2020-analyst-mistry.md) | +0.6% | +9.2% |
| PALMOIL | 2023-03-27 | [Malaysia: Boost in demand for palm oil seen on supply recovery](https://feedsoft.ai/events/36955-malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery.md) | +1.1% | -1.9% |
| PALMOIL | 2021-01-05 | [Malaysian palm oil stocks forecast lower, keeping prices high in 2021 - Markets - Business Recorder](https://feedsoft.ai/events/4995-malaysian-palm-oil-stocks-forecast-lower-keeping-prices-high-in-2021-markets.md) | +1.3% | -10.0% |
| PALMOIL | 2024-01-16 | [Indonesia’s 2024 palm oil exports seen down 4% on year – statement](https://feedsoft.ai/events/15677-indonesia-s-2024-palm-oil-exports-seen-down-4-on-year-statement.md) | -0.2% | -1.4% |
| PALMOIL | 2018-10-05 | [Malaysia palm oil stocks seen edging down from seven month high \| The Star](https://feedsoft.ai/events/62643-malaysia-palm-oil-stocks-seen-edging-down-from-seven-month-high-the-star.md) | -2.1% | -4.4% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/commodities/malaysia-palm-oil-prices-seen-at-3700-4200-ringgit-in-h2-state-agency-idUSL4N39I27W/

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