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Crude palm oil averaged MYR 4,931 per tonne in the week to 7 November 2024, up 4.5% week on week and at a two-year high for a second straight week. The rally was driven by Indonesia's tight supply and plans to expand biodiesel use to B40 in 2025 and B50 in 2026.
Expanding biodiesel mandates absorb more palm oil domestically, and the reported supply shortage tightens global availability, which supports prices. A seasonal rise in December output could limit gains.
samuel.co.idNov 8, 2024After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
