# SD Guthrie expects CPO prices to average above RM4,000 a tonne this year, says group COO | Malay Mail

> SD Guthrie expects crude palm oil prices to average above RM4,000 per tonne this year, citing limited Indonesian supply due to extreme weather tied to El Nino. The company said palm is now cheaper than soybean and sunflower oil, and expects La Nina in the second half of the year.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: weather · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/8036-sd-guthrie-expects-cpo-prices-to-average-above-rm4-000-a-tonne-this-year-says
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weather-driven Indonesian supply constraints and palm's price discount to other oils support palm prices and vegetable oil demand in feed markets.

## Read by commodity

- SBO: neutral
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-06-02 | 1 | +5.0% | 4.2 | SD Guthrie's outlook of CPO averaging above RM4,000 on limited Indonesian El Nino supply and palm's discount to other oils supported bullish sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-10-31 | [IOI Group: Malaysia sees La Nina pushing CPO prices above RM3,000/tonne](https://feedsoft.ai/events/68564-ioi-group-malaysia-sees-la-nina-pushing-cpo-prices-above-rm3-000-tonne.md) | +1.2% | -0.2% |
| PALMOIL | 2024-01-15 | [OCBC Research revises 2024 CPO price to average RM3,650 per tonne \| The Star](https://feedsoft.ai/events/32230-ocbc-research-revises-2024-cpo-price-to-average-rm3-650-per-tonne-the-star.md) | -0.2% | -1.4% |
| PALMOIL | 2024-05-31 | [CPO to average above RM4,000 per tonne in 2024 as prolonged drought curbs Indonesian output — Sime Darby Plantation](https://feedsoft.ai/events/30352-cpo-to-average-above-rm4-000-per-tonne-in-2024-as-prolonged-drought-curbs.md) | +2.2% | +1.0% |
| PALMOIL | 2023-12-01 | [CPO prices to rise to US$850/tonne or higher next year](https://feedsoft.ai/events/33279-cpo-prices-to-rise-to-us-850-tonne-or-higher-next-year.md) | -3.0% | -2.4% |
| PALMOIL | 2026-09-03 | [CPO Prices to Stay Firm Above RM4,600 (USD1,133) on Tightening Supply and Geopolitical Disruptions — PalmPulse](https://feedsoft.ai/events/4535-cpo-prices-to-stay-firm-above-rm4-600-usd1-133-on-tightening-supply-and.md) | -1.1% | -9.1% |
| SBO | 2024-09-16 | [Purchase prices for sunflower in Ukraine continue to rise](https://feedsoft.ai/events/28424-purchase-prices-for-sunflower-in-ukraine-continue-to-rise.md) | +0.8% | +3.3% |
| SBO | 2022-12-07 | [Sunflower prices in Ukraine were supported by a decline in harvest forecasts in the Russian Federation](https://feedsoft.ai/events/38352-sunflower-prices-in-ukraine-were-supported-by-a-decline-in-harvest-forecasts-in.md) | -1.4% | -5.2% |
| SBO | 2026-08-01 | [Sunflower Market: EU Heat Stress Tightens 2026 Outlook, Prices Firm — CMB News](https://feedsoft.ai/events/18467-sunflower-market-eu-heat-stress-tightens-2026-outlook-prices-firm-cmb-news.md) | +3.6% | +0.5% |

## Sources

- malaymail.com: https://www.malaymail.com/news/money/2024/05/31/sd-guthrie-expects-cpo-prices-to-average-above-rm4000-a-tonne-this-year-says-group-coo/137507

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