# Palm Oil Weekly (8 November 2024): CPO MYR 4,931 (+4.5% WoW) - Samuel Sekuritas Indonesia

> 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.

- Date: 2024-11-08 · published 2024-11-08T12:00:00.000Z
- Category: policy · region Indonesia · magnitude medium
- Page: https://feedsoft.ai/events/8038-palm-oil-weekly-8-november-2024-cpo-myr-4-931-4-5-wow-samuel-sekuritas-indonesia
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2025-10-31 | [Palm Oil Magazine - CPO Reference Price Rises Slightly, Indonesia Sets November 2025 Export Levy at US$124/MT - Palm Oil Magazine](https://feedsoft.ai/events/15521-palm-oil-magazine-cpo-reference-price-rises-slightly-indonesia-sets-november.md) | -5.6% | -5.9% |
| PALMOIL | 2024-11-28 | [Indonesia: Temporary changes in export duties of crude palm oil (28 November 2024) - Global Trade Alert](https://feedsoft.ai/events/15607-indonesia-temporary-changes-in-export-duties-of-crude-palm-oil-28-november-2024.md) | +3.0% | -2.6% |
| PALMOIL | 2021-04-06 | [Indonesia’s Palm Oil Tax Regime as of April 2021](https://feedsoft.ai/events/47464-indonesia-s-palm-oil-tax-regime-as-of-april-2021.md) | -1.7% | +9.0% |
| PALMOIL | 2025-09-01 | [Palm Oil Magazine - Indonesia's CPO Reference Price Climbs in September, Export Duty Set at 10% - Palm Oil Magazine](https://feedsoft.ai/events/15532-palm-oil-magazine-indonesia-s-cpo-reference-price-climbs-in-september-export.md) | +2.4% | +1.0% |
| PALMOIL | 2023-11-17 | [Palm Oil News - CPO RP Got Better: CPO OF and Levy Would be US$ 93/Ton on 16 - 30 November 2023](https://feedsoft.ai/events/15689-palm-oil-news-cpo-rp-got-better-cpo-of-and-levy-would-be-us-93-ton-on-16-30.md) | -0.7% | -3.7% |

## Sources

- samuel.co.id: https://samuel.co.id/research-reports/palm-oil-weekly-8-november-2024-cpo-myr-4931-4-5-wow/

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