# Rising CPO Prices Affected By Increased Demand From India

> Indonesia's trade ministry raised the October 2024 CPO reference price to $893.64 a ton, up 6.45% from September. The ministry attributed the rise to strong demand from India and China against lower output tied to a long dry season.

- Date: 2024-10-02 · published 2024-10-02T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/7239-rising-cpo-prices-affected-by-increased-demand-from-india
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The reference price sets the export levy and duty for the month, and the rise reflects tight supply and firm demand that support palm oil prices.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-10-04 | 5 | +9.1% | 4.5 | Higher Indonesian reference price attributed to strong India and China demand and lower output from dry weather supports the supply-demand tightness narrative. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2024-11-01 | [November CPO Price Increase Influenced By Requests From India And China](https://feedsoft.ai/events/4982-november-cpo-price-increase-influenced-by-requests-from-india-and-china.md) | +9.9% | +9.2% |
| PALMOIL | 2026-02-01 | [Palm Oil Magazine - Indonesia Raises February CPO Reference Price, Export Duty and Levy Increase - Palm Oil Magazine](https://feedsoft.ai/events/15492-palm-oil-magazine-indonesia-raises-february-cpo-reference-price-export-duty-and.md) | +3.3% | +4.0% |
| PALMOIL | 2016-11-25 | [Palm oil demand from Indonesia biodiesel sector to surge by 2020](https://feedsoft.ai/events/73756-palm-oil-demand-from-indonesia-biodiesel-sector-to-surge-by-2020.md) | +3.8% | +5.0% |
| PALMOIL | 2026-07-17 | [Indonesia's CPO Export Levy Projected Increase in the Q3 2026](https://feedsoft.ai/events/15454-indonesia-s-cpo-export-levy-projected-increase-in-the-q3-2026.md) | +0.5% | +3.4% |
| PALMOIL | 2024-11-07 | [Indonesia confident palm oil production can be increased to meet biofuel demand \| Reuters](https://feedsoft.ai/events/8037-indonesia-confident-palm-oil-production-can-be-increased-to-meet-biofuel-demand.md) | +0.4% | +1.8% |

## Sources

- voi.id: https://voi.id/en/economy/421713

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