# Malaysia: Boost in demand for palm oil seen on supply recovery

> Kenanga Research expects palm oil demand to recover on stronger Asia-Pacific needs and improving biofuel policies. The brokerage forecasts 2023 palm output up 3% to 5% and keeps its 2023 CPO price estimate at RM3,800 a tonne, while raising its 2024 forecast to RM3,800.

- Date: 2023-03-27 · published 2023-03-27T12:00:00.000Z
- Category: report · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/36955-malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A forecast of firm CPO prices through 2024 and smaller South American soybean supplies supports vegetable oil values. Buyers should expect edible oil prices to stay supported rather than fall.

## Read by commodity

- SBO: bullish ▲
- 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 | 2022-12-05 | [Malaysia’s end-Nov palm oil stocks seen down slightly as output falls - Markets - Business Recorder](https://feedsoft.ai/events/38334-malaysia-s-end-nov-palm-oil-stocks-seen-down-slightly-as-output-falls-markets.md) | +1.3% | +7.0% |
| PALMOIL | 2024-02-29 | [Brighter Outlook for Malaysian Oil Palm Industry This Year](https://feedsoft.ai/events/9426-brighter-outlook-for-malaysian-oil-palm-industry-this-year.md) | +4.9% | +8.8% |
| PALMOIL | 2023-08-01 | [Malaysia palm oil prices seen at 3,700-4,200 ringgit in H2 -state agency](https://feedsoft.ai/events/34680-malaysia-palm-oil-prices-seen-at-3-700-4-200-ringgit-in-h2-state-agency.md) | -2.8% | -3.1% |
| PALMOIL | 2020-01-17 | [Palm oil rally sparked by growing biodiesel use in Malaysia and Indonesia](https://feedsoft.ai/events/54957-palm-oil-rally-sparked-by-growing-biodiesel-use-in-malaysia-and-indonesia.md) | -0.0% | -10.8% |
| SBO | 2024-02-29 | [Brighter Outlook for Malaysian Oil Palm Industry This Year](https://feedsoft.ai/events/9426-brighter-outlook-for-malaysian-oil-palm-industry-this-year.md) | +0.5% | +7.2% |
| SBO | 2020-01-17 | [Palm oil rally sparked by growing biodiesel use in Malaysia and Indonesia](https://feedsoft.ai/events/54957-palm-oil-rally-sparked-by-growing-biodiesel-use-in-malaysia-and-indonesia.md) | -3.1% | -7.4% |
| SBO | 2021-09-29 | [Palm Oil Supply and Demand Prospects \|         Global Oil & Fats Business Online – gofbonline.com](https://feedsoft.ai/events/44943-palm-oil-supply-and-demand-prospects-global-oil-and-fats-business-online.md) | +2.7% | +7.9% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery/

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