# Malaysia’s palm oil surge: What’s driving prices to biggest highs since 2022?

> Malaysian crude palm oil futures closed at RM4,486 per tonne on October 23, the highest since July 2022, up 22.6% year to date. Indonesian exports fell to 1.79 million tonnes in September, and Indonesia's output dropped in the first eight months of 2024 due to El Niño effects on yields.

- Date: 2024-10-25 · published 2024-10-25T12:00:00.000Z
- Category: weather · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/4981-malaysia-s-palm-oil-surge-what-s-driving-prices-to-biggest-highs-since-2022
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower Indonesian exports from El Niño-hit output and the planned B40 biodiesel mandate tighten global palm supply, supporting prices and raising costs for oilseed-based feed ingredients.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-24 | [Palm oil reaches highest since 2022, adding to food price risks](https://feedsoft.ai/events/27955-palm-oil-reaches-highest-since-2022-adding-to-food-price-risks.md) | +0.5% | +9.7% |
| PALMOIL | 2019-10-22 | [Malaysian palm oil prices begin to strengthen on lower Q3 production  : The Daily Digest](https://feedsoft.ai/events/56676-malaysian-palm-oil-prices-begin-to-strengthen-on-lower-q3-production-the-daily.md) | +1.3% | +16.9% |
| PALMOIL | 2026-10-22 | [Palm oil prices to stay high next year on Southeast Asia drought](https://feedsoft.ai/events/523-palm-oil-prices-to-stay-high-next-year-on-southeast-asia-drought.md) | -0.4% | — |
| PALMOIL | 2023-11-23 | [El Nino poses risk to 2024 palm oil output in Indonesia, Malaysia - The HinduBusinessLine](https://feedsoft.ai/events/33277-el-nino-poses-risk-to-2024-palm-oil-output-in-indonesia-malaysia-the.md) | -0.7% | -3.3% |
| PALMOIL | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | +0.4% | +4.5% |
| SBO | 2023-11-23 | [El Nino poses risk to 2024 palm oil output in Indonesia, Malaysia - The HinduBusinessLine](https://feedsoft.ai/events/33277-el-nino-poses-risk-to-2024-palm-oil-output-in-indonesia-malaysia-the.md) | -1.1% | -5.2% |
| SBO | 2026-07-23 | [Malaysian palm oil closes higher on supply squeeze concerns - Markets - Business Recorder](https://feedsoft.ai/events/18444-malaysian-palm-oil-closes-higher-on-supply-squeeze-concerns-markets-business.md) | -6.7% | -3.6% |
| SBO | 2026-04-29 | [Indonesia 2026 crude palm oil output to fall due to El Nino, high fertiliser prices, association says \| The Star](https://feedsoft.ai/events/19818-indonesia-2026-crude-palm-oil-output-to-fall-due-to-el-nino-high-fertiliser.md) | +2.6% | -2.9% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/malaysias-palm-oil-surge-whats-driving-prices-to-biggest-highs-since-2022/
- malaymail.com: https://www.malaymail.com/news/money/2024/10/25/malaysias-palm-oil-surge-whats-driving-prices-to-biggest-highs-since-2022/154752

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